Stock futures trend lower after Trump imposes tariffs | Money [Video]

(CNN) — US stock market futures were trending down Sunday, one day after President Donald Trump announced 25% tariffs on Canada and Mexico and 10% tariffs on China.

Dow futures were down 1.11%, while S&P 500 futures dropped 1.65%. The tech-heavy Nasdaq Composite futures were down 2.32% as of 6:21 p.m. ET. Bitcoin was also down 3.06% as of Sunday at 6:21 p.m. ET.

Hours after the Trump administration announced the tariffs, Mexican President Claudia Sheinbaum said her country will impose retaliatory tariffs, and Canadian Prime Minister Justin Trudeau announced “far-reaching” retaliatory levies. China’s commerce ministry said it will file a complaint with the World Trade Organization and “take corresponding countermeasures,” without elaborating.

“This will include immediate tariffs on $30 billion worth of goods as of Tuesday, followed by further tariffs on $125 billion of American products in 21 days’ time, to allow Canadian companies and supply chains to seek to find …