The 10 Worst-Performing Stocks on Monday

7. Magna International Inc. (NYSE:MGA)

Magna International dropped its share prices by 6.35 percent on Monday to finish at $37.15 each as investor sentiment was dragged down by the US imposition of tariffs on Canadian goods.

Magna International, a leading Canadian automotive parts manufacturer, faces significant risks from potential tariffs, at a time when it just launched a new manufacturing facility in Maharashtra, India.

Spanning nearly 6,000 square meters, the new facility will produce advanced latches and mirrors for automotive applications. Additionally, the new site reportedly will create 300 jobs over the next three years.

According to its financial reports, Mexico, Canada, and China—three countries now grappling with the recent US tariff hikes—represent some of Magna’s most significant end markets outside of the United States. The said regions are critical to Magna’s global supply chain and revenue, making the impact of tariffs particularly concerning for the company.

In 2023, the three markets were said to have contributed 34 percent of its total sales.