President Donald Trump is moving forward with 25% tariffs on goods imported from Canada and Mexico into the US, saying that time had run out to reach a deal. US stock markets sank in response to the measures, which have been threatened since earlier this year and are due to go into effect on Tuesday.

US stocks tumbled after Trump confirms 25% Mexico and Canada tariffs will begin Tuesday. Crypto also gives up gains made on strategic crypto reserve.

President Donald Trump said 25 percent tariffs on goods from Mexico and Canada would go into effect March 4, ending a month-long delay.

Chinese electric vehicle maker BYD said on Tuesday it had raised $5.59 billion in a primary share sale that was increased in size, making it the largest of its kind in Hong Kong in four years.

Shares of Mixue Group, China’s largest bubble tea chain controlled by billionaire brothers Zhang Hongchao and Hongfu, jumped 43% in its Hong Kong IPO debut.

Shares were mostly higher in Europe and Asia on Monday, helped by strong Chinese factory data, following Friday’s rally on Wall Street. Germany's DAX added 0.5% to 22,658.00, while the CAC 40 in Paris was up less than 0.

Asian shares have started the week with solid gains after Wall Street closed its dreary February on a brighter note