Stocks sell off, dollar gains as Trump plans 25% tariffs on Japan, South Korea

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City. REUTERS/Brendan McDermid/File Photo

NEW YORK: Major stock indexes declined while the dollar strengthened on Monday as U.S. President Donald Trump unveiled sharply higher U.S. tariffs on goods from Japan, South Korea and other countries in the latest development in the U.S. trade war.

Longer-dated U.S. Treasury yields rose.