The European Union must remain united to respond to Trump's threats to levy tariffs on its products, Spanish Economy Minister Carlos Cuerpo said. The bloc should protect its companies and make sure they were in a position to compete on equal terms with rivals from other countries, Cuerpo told Spanish radio station RNE.

Wall Street's main indexes pared losses on Monday, as U.S. President Donald Trump delayed new tariffs on Mexico after his orders to levy steep tariffs on three countries sparked a global scramble to safe-haven assets earlier in the day.

President Donald Trump’s tariffs sent Wall Street on a roller coaster. The S&P 500 fell 0.8% Monday following sharper loses across Asia and Europe. The Dow Jones Industrial Average fell 0.3%, and the Nasdaq composite lost 1.