U.S. President Donald Trump has announced a 25% tariff on imports from Canada and Mexico starting on March 4, citing a need to improve drug flow control across the border. Hong Kong's Hang Seng index dropped by over 3%, and Japan's Nikkei fell to a five-month low due to concerns over the proposed tariffs. Following Trump's statement, Dow futures also turned negative, leading to broad declines in the stock market. Investors are worried that the ongoing trade disputes could negatively impact the global economy.