Stocks looked to open lower on Monday after President Trump threatened higher tariffs on goods from a host of countries.

The new tariffs would take effect Aug. 1 unless Canada (25%), Mexico (30%), the EU (30%) and others can get a deal done.

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Futures trading in the Standard & Poor’s 500, Dow Jones Industrial Average and the tech-heavy Nasdaq-100 Index were all lower by about 0.3%. 

European stocks were mostly lower, with Germany’s Dax Index and France’s CAC-40 Index down as much as 0.5%.

Related: Where’s the inflation? Not in stores — yet

Bitcoin topped $120,000 in early trading and briefly reached a record $123,166. Coinbase  (COIN) , MicroStrategy  (MSTR) , and Robinhood  (HOOD)  were higher in premarket trading.

The 10-year Treasury yield was at 4.438%, up from Friday’s 4.412%.