Mexico’s peso and Canada’s dollar fell sharply in the early hours of Tuesday morning on the back of a social media post from president-elect Donald Trump outlining plans to impose 25% tariffs on all products imported from the two countries with which the U.S. shares a land border.

Stocks were higher Tuesday afternoon as investors digested earnings reports from several retailers and awaited results from technology companies after the closing bell.

U.S. stocks rose, with those benefiting the most from lower interest rates and a stronger economy leading the way