Wall Street is pointing lower before the opening bell with new tariffs announced for Europe and Mexico and as the unofficial start of earnings season get under way this week. Futures for the S&P 500, Dow Jones Industrial Average and Nasdaq each retreated by about 0.3% early Monday.

Markets previously brushed off tariff risks under the assumption that President Donald Trump would follow his earlier pattern and eventually retreat. That allowed stocks to reach new record-high territory,