The Dow Jones Industrial Average, one of the best-known U.S. stock market gauges, tumbled the most since a January government shutdown after President Trump threatened harsh new tariffs on Chinese imports that would drive up consumer costs.

Irritated by delays in reaching a trade deal with Beijing that negotiators had been working on since last fall, Trump threatened via Twitter on Sunday to more than double tariffs on $200 billion of Chinese imports to 25% and tack duties of the same level onto the remaining $325 billion in goods the U.S. buys from the world’s second-largest economy.

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