The FTSE 100, DAX 40, and S&P 500 have all experienced sharp declines following President Trump's imposition of tariffs on key trading partners, including Canada, Mexico, and China. The FTSE 100 fell from a record high of 8693, while the DAX 40 dropped around 2% from its peak of 21,802. The S&P 500 gapped lower, reaching 5940, a level not seen since mid-January, with potential further declines looming if key support levels are breached.