Wall Street stocks tumbled Monday morning upon fears that President Trump’s tariffs would cause economic upheaval by disrupting supply chains and inflaming price inflation.

The Dow Jones Industrial Average opened down nearly 500 points before rebounding to a much smaller decline after Mexican President Claudia Sheinbaum announced a border deal with Mr. Trump to delay the tariffs on her country. The S&P 500 and Nasdaq showed similar trends.

Mr. Trump had announced a 25% tariff on goods from Canada and Mexico, plus an additional 10% tariff on Chinese goods, effective Tuesday. Energy imports from Canada will get a lower tariff of 10%.

Markets are still figuring out the impact, but some automotive and beverage brands saw an immediate hit.

Share prices for Constellation Brands, which owns the brand license for Corona and Modelo beers from Mexico, dropped alongside shares for General Motors and the Nike and Lululemon clothing brands.

Foreign markets in Europe and Asia also took a dive, and the price of bitcoin dropped to about $95,000 from the $100,000-plus it enjoyed last week before Mr. Trump confirmed his tariff plan.

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Tariffs are typically paid by U.S. companies that bring goods into the country. The levies could result in higher supply chain costs and higher prices for consumers at checkout.

Mr. Trump shows no signs of relenting, saying North American neighbors haven’t reined in illegal migration and drug trafficking and haven’t opened their markets to U.S. goods.

He said the European Union should expect levies, too.

• Tom Howell Jr. can be reached at thowell@washingtontimes.com.