Stock futures tumbled Sunday night to kick off a new trading month, as investors weighed new U.S. tariffs on goods from key trade partners and their potential impact on the economy and corporate profits.

Asia shares are mostly declining as worries grow about President Donald Trump imposing tariffs on key U.S. trading partners

Investors are bracing for a potential trade war that could hit the earnings of major companies and dent global growth. Canada and Mexico have said that they will hit back with retaliatory tariffs while China promised to respond with "corresponding countermeasures" and vowed to challenge Trump's move at the World Trade Organization.

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

Stocks surrendered early gains and closed lower after the White House said President Donald Trump would impose promised tariffs on some key U.S. trading partners.

Asian stocks plunge as Trump’s tariffs spook markets Stock markets in Asia dropped on Monday after US tariffs on China, Canada and Mexico triggered fears of a hit to global growth. Japan's Nikkei index tumbled as much as 2.