Mexico’s peso and Canada’s dollar fell sharply in the early hours of Tuesday morning on the back of a social media post from president-elect Donald Trump outlining plans to impose 25% tariffs on all products imported from the two countries with which the U.S. shares a land border.

The 10-year Treasury yield rose three basis points to 4.298%. The US dollar jumped against the Canadian dollar and Mexican peso. Meanwhile, international stocks slid on fears of a widening trade war, with European, Japanese, and South Korean indexes falling after Trump's posts.