President Trump’s decision to impose sweeping tariffs on some of America’s largest trading partners sent shock waves through markets across the globe on Monday.

       The day began with stocks dropping sharply on Wall Street, tracking a global slump that came overnight as investors dumped shares of companies that would be hardest hit by tariffs on imports from Canada, Mexico and China.

       But the chaotic on-and-off-again rollout of the Trump administration’s plans — with the announcement late Monday morning that tariffs on Mexico would be delayed for a month and then, after the markets closed, a similar announcement about the tariffs on Canada — whipsawed markets, and traders scrambled to adjust to developments as they unfolded. Tariffs on China are still set to take effect on Tuesday.

       As trading shook out, the dollar held on to broad gains, even as the peso and Canadian dollar clawed back losses. Oil prices, which had risen over 3 percent earlier on Monday, settled back to a rise of around 1 percent.

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       Major stock indexes in the United States also recovered some losses. By the end of the day, the S&P 500 had dropped 0.8 percent, while the technology-heavy Nasdaq fell 1.2 percent.

       When Mr. Trump was elected, many analysts and investors had brushed off his more aggressive tariff talk as bluster intended to prompt negotiation from his global counterparts. But over the weekend, the new administration followed through on the president’s promise to impose tariffs of 25 percent on imports from Canada and Mexico, the United States’ closest trading partners. Canadian energy products would be levied at 10 percent, as will goods from China.

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