Major stock exchanges on Wall Street began Tuesday's trading session with losses as markets reacted to the latest duties on Canada and Mexico, as well as the new 20% tariff on China and Beijing's counter-duties which sparked fears of a global trade confrontation.

The Dow Jones decreased 0.62% as Goldman Sachs slumped 3.65%. The Nasdaq 100 declined 0.75% after Lululemon Athletica came down 4.45%. The S&P 500 fell 0.81% with Best Buy crashing 13.58%.

Meanwhile, the euro rose 0.42% against the dollar, selling for $1.05265 at 9:29 am ET.