Trump Media & Technology Group Corp ( DJT ) shares are trading lower Monday as global markets continue to decline following President Donald Trump’s sweeping reciprocal tariffs on several countries.

What Happened: Trump announced sweeping reciprocal tariffs on several countries last week that has raised concerns over higher prices for consumers, weakening demand and a potential recession.

The tariff announcement sent markets into a tailspin as investors feared that other countries would retaliate against the new duties. Markets continue to move lower on Monday as investors fear the worst is not over.

China on Friday responded with 34% tariffs on U.S. imports, export curbs on some rare earths and restrictions on several U.S. organizations.

Trump responded saying, “China played it wrong, they panicked – the one thing they cannot afford to do!”

The response from China has deepened the trade war between the world’s two largest economies and raised fears that more retaliatory measures could come from other countries.

See Also: US Recession ‘Countdown’ Has Begun As Trump Tariffs Push Odds To 45%, Goldman Sachs Warns

Reuters reported that Ministers in the European Union are meeting on Monday to discuss how to respond to Trump’s tariffs. Trump has brushed off concerns and showed no signs that he’s willing to roll back his sweeping tariff announcement. He also appeared to show little concern for the massive stock market losses over recent sessions.

“I don’t want anything to go down. But sometimes you have to take medicine to fix something,” Trump reportedly told reporters aboard Air Force One over the weekend.

The SPDR S&P 500 was last down more than 2.5% on Monday after falling 5.85% on Friday. Trump Media ( DJT ), which is the parent company of Truth Social, was co-founded by Trump, who maintains more than a 50% stake in the company.

DJT Price Action: Trump Media ( DJT ) shares were down 3.64% at $16.47 at the time of publication Monday, according to Benzinga Pro.