TMTPOST -- Nvidia shares fell nearly 9% on Monday following confirmation from U.S. President Donald Trump that tariffs on imports from Canada and Mexico would go into effect on Tuesday. The decline occurred on a rough day for the stock market, with the Dow dropping 800 points (1.8%) and the Nasdaq Composite losing over 3%. Currently, Nvidia shares are trading at levels seen in September, before the U.S. presidential election. The company’s market capitalization has decreased to $2.79 trillion after Monday’s slide, shedding $265 billion from its valuation. Since Wednesday, Nvidia has experienced a more than 13% drop, despite reporting strong earnings that exceeded analysts' expectations. The company’s revenue surged by 78% from the previous year to $39.33 billion. During its earnings report, Nvidia’s Chief Financial Officer, Colette Kress, was asked about the impact of U.S. tariffs. She stated, “Tariffs at this point, it’s an unknown until we understand further what the U.S. government’s plan is.” Though Nvidia's chips are mainly manufactured in Taiwan, the company also produces some of its sophisticated systems and full computers in regions such as Mexico and the U.S., which could be impacted by the 25% duties on imports from these countries. Additionally, Nvidia faced scrutiny over its exports to Singapore, which some analysts suggest may serve as a transit point for shipping chips to China, potentially bypassing U.S. export controls. This follows a recent incident where Singapore authorities detained three individuals for allegedly misrepresenting the final destination of U.S.-made servers. In response to these challenges, Nvidia confirmed that it would manufacture chips in the U.S. as part of a $100 billion expansion of Taiwan Semiconductor Manufacturing facilities announced by President Trump on Monday.