Tesla was particularly battered as it joined Apple (-3%) and Nvidia (-3%), as American multinational companies with the highest proportion of sales in China.

The market sold off this morning after President Donald Trump announced sweeping tariffs over the weekend to take effect Tuesday. The broader benchmark S&P 500 fell over 1.7%, as of 9:55 a.m. ET. Meanwhile,

Tesla was the worst-performing Magnificent Seven stock on Monday, falling more than 5%, after President Trump moved to impose stiff tariffs on America's largest trading partners. The automotive industries of the U.

Silicon Valley giants Apple (-3%) and Nvidia (-5%), two of the American multinational companies with the highest proportion of sales in China, faltered, while semiconductor chip players including Broadcom (-3%) and Intel (-3%) suffered as the industry heavily reliant on the global supply chain digested the trade conflict.

Tesla shares plunged by 7%, staying at 4% early Monday morning along with other automakers stocks due to president Donald Trump implementing his tariffs.