Car stocks, including Tesla shares, were volatile on Monday—and in the red. Tariffs are the reason. Over the weekend, President Donald Trump went ahead with his plan to put 25% tariffs on goods from Mexico and Canada.

Tesla was particularly battered as it joined Apple (-4%) and Nvidia (-2%), as American multinational companies with the highest proportion of sales in China.

President Trump’s imposition of new U.S. tariffs on imports from China, Mexico and Canada drove down stocks across the board Monday, with shares of media companies falling as investors grappled with America’s new trade wars.