Wall Street opens down Monday following Trump's tariffs on Canada, Mexico and China

Wall Street stocks open slight down Monday, following President Donald Trump over the weekend enacts tariffs on Mexican, Chinese and Canadian goods.

The Dow Jones Industrial Average decreased 565 points, or 1.3%, following the opening bell Monday, according to The Hill newspaper. 

The S&P 500 index went down 1.7% and the Nasdaq composite was down a little over two percentage points.

The White House announced on Saturday Trump would impose 25% tariffs on Canadian and Mexican imports and 10% on Chinese imports.

Trump cited illegal immigration, drug trafficking and the fentanyl crisis as reasons for the tariffs.

Canada and Mexico responded by imposing retaliatory tariffs.

Canadian Prime Minister Justin Trudeau said the "far-reaching" tariffs would apply to U.S. imports including beer, wine, home appliances and sporting goods.