The VanEck Morningstar Wide Moat ETF (MOAT) saw a decline to $98.48 as of 9:33 AM ET on November 26th. The market is grappling with heightened uncertainty following President-elect Trump's announcement of significant tariffs on imports from China, Mexico, and Canada. This move has rattled investor confidence, particularly affecting sectors with substantial exposure to international trade. The automotive industry, for instance, is under pressure, with General Motors and Ford experiencing declines of 4% and 2%, respectively, due to their reliance on cross-border manufacturing and imports. Additionally, the broader market sentiment is being tested by the recent performance of tech giants like Nvidia and Tesla, which have seen notable declines, contributing to a cautious outlook among investors. The European markets are also reflecting this unease, with major indices like the FTSE 100 and DAX 40 posting losses as the implications of the proposed tariffs weigh on global trade prospects.