Stocks tumble as markets brace for Trump’s next round of tariffs

China
— which has been accused by the US of not doing enough to rein
in its longtime ally — has maintained that political dialogue is
the only solution
AFP/File SAUL
LOEB

Stocks fell Monday as markets braced for major escalations in the
US-China trade war. The Nasdaq Composite dropped nearly 1.5%,
with companies like Apple
earlier warning tariffs could force them to raise prices. The
dollar and Treasury yields slid. 

Here’s the scoreboard: 

1. NAFTA negotiations between the US and Canada look
   likely to stall. Prime Minister Justin Trudeau
   defended regulations on the country’s dairy market, an issue
   the US has signaled it will not be quick to budge on. Canada
   imposes high import duties in its dairy market to support
   prices. 
2. North Korea may be circumventing US-led sanctions
   related to its nuclear weapons program.
   The Wall Street Journal reports Pyongyang has
   worked with Russia and China to avoid sanctions, according to a
   confidential United Nations report, making the
   latest economic penalties “ineffective.”

And a look at the upcoming economic calendar:

• European Central Bank President Draghi speaks in Paris. 
• Housing starts and existing home sales numbers are out in
  the US.