The U.S. stock market sold off Monday as Wall Street digested President Donald Trump’s tariffs on Canadian, Chinese and Mexican goods set to go into effect Tuesday, though much of the losses were concentrated in Michigan’s auto sector and Silicon Valley.

Nvidia stock dropped around 4% premarket Monday, extending the prior week’s declines as investors reacted to Trump’s new tariffs — and what they say about his attitude toward economic policymaking.

Semiconductor companies with significant exposure to China, including Nvidia Corp. (NVDA), Broadcom Inc. (AVGO), and Applied Materials Inc. (AMAT), saw their shares fall in pre-market trading Monday.