The Globe and Mail reports in its Tuesday edition that Wall Street's major indexes closed lower on Monday, after U.S. President Donald Trump announced hefty tariffs against Japan, South Korea and other trading partners. A Reuters dispatch to The Globe says indexes added to losses after Mr. Trump announced the tariff rates against Japanese and South Korean imports, due to take effect on Aug. 1. Stocks wobbled further in the late afternoon when he announced hefty tariffs on Malaysia, Kazakhstan, South Africa, Laos and Myanmar. "Markets had been telling us that peak tariff risk is behind us but to have tariffs back in the forefront is causing some skittishness," said Emily Roland at John Hancock in Boston. But investors likely have some hopes the announcements are not permanent, she said: "That's the pattern we've been in, announcing punitive tariffs and then dialling that back a little bit. That could certainly be the next phase of this back and forth negotiation." The S&P/TSX Composite Index closed lower, but escaped with only minor losses with the help of a rally in materials stocks. It lost 15.88 points, ending at 27,020.28. The Dow fell 422.17 points to 44,406.36, and Nasdaq lost 188.59 points to 20,412.52.