President Donald Trump warned Americans in 2024 that a vote for Vice President Kamala Harris would be a vote for a market meltdown.

While there are a few concerns that have investors' attention at the moment, including a forecasted contraction in first-quarter gross domestic product, along with the historic priciness of stocks, perhaps the prevailing issue for the stock market is President Donald Trump's tariff policy.

Donald Trump holds up a chart of his new tariff plan at the White House on April 2 The effects of Donald Trump's "Liberation Day" tariffs are drawing concern among the millions of United States citizens who have retirement plans tied up in the stock market.

Trump said on Truth Social he would impose the new tariffs on China if Beijing did not retract a 34% retaliatory tariff on U.S. goods that it announced in response to Trump's initial salvo last Wednesday.

U.S. stock futures sank Monday and Asian markets suffered major declines, signaling that the financial turmoil that began last week would continue to rip through markets when trading opens Monday.

Just hours after Trump's comments, stock markets plunged in Asia early on Monday, with Hong Kong's Hang Seng losing 9.8%.

U.S. stock futures opened sharply lower on Sunday evening, with contracts tied to the S&P 500 falling more than 5% during the opening minutes of trade as an ugly stretch for stocks looked set to worsen.

U.S. stocks are swinging in a manic Monday after President Donald Trump doubled down on his tariffs, despite seeing how much Wall Street wants him to do the opposite.

U.S. stocks are falling after President Donald Trump doubled down on his tariffs, despite seeing how much markets would love to see him do the opposite.