The major domestic equity indexes were lower on Monday, led by declines in Apple and Amazon as investors took profits ahead of President Donald Trump’s expected announcement of new tariffs on $200 billion of Chinese imports.

Wall Street extended its losses ahead of the tariff announcement after Trump asserted his belief that the United States’ trade deficit with China was too big, stating “we can’t do that anymore.”

China has vowed that it will not play defense in the escalating trade war, ratcheting up tensions as a new list of items subject to tariffs, including technology and consumer goods was anticipated from Washington.

Consumer discretionary and technology indexes were the largest percentage losers on the S&P 500, falling 1.3 percent and 1.4 percent, respectively.

Apple has said the moves could hit a “wide range” of its products. The iPhone maker’s shares were down 2.7 percent, providing the biggest drag on the Dow. The stock pared its losses following reports that the United States would spare some of its products in the latest round of tariff actions.

All of the so-called FAANG group of momentum stocks were trading lower. Netflix, Facebook, Amazon and Alphabet were down between 1.0 percent and 3.9 percent.

Retailers including Macy’s and Kohls were lower, helping pull the S&P 500 retailers index down 2.1 percent.

The CBOE Volatility index rose 1.46 points, posting its first increase in six sessions.

Twitter fell 3.1 percent, the biggest percentage loser in the S&P 500 technology index, after a brokerage firm flagged concerns over rising expenses.

Coke Eyes Cannabis

While it may not endear the company to you depending on your viewpoint of marijuana, Coca Cola indicated on Monday that it was considering the growing marijuana-infused drinks market, responding to a media report that the world’s largest beverage maker was in talks with Canada’s Aurora Cannabis.

The potential product tie-up, reported by Canadian financial channel BNN Bloomberg, could help Coke’s efforts to overcome sluggish demand for its sugar-heavy sodas by diversifying into coffee and health-focused drinks.

Big corporate names have inched into the marijuana industry since Canada approved recreational use, seeing the country as a production base and testing ground until U.S. Federal Law changes.

Both Coke and Aurora, in separate statements, said they were interested in cannabidiol infused beverages but could not comment on any market speculation. Coke and Aurora would likely develop beverages that will ease inflammation, pain and cramping.

The move would make Coke the first major manufacturer of non-alcoholic beverages to step into the market for cannabis-related products, following announcements by Corona maker Constellation Brands and Molson Coors Brewing.

The world’s largest spirits maker Diageo is also reportedly in talks with at least three Canadian cannabis producers as it considers a possible investment.

Sales in U.S. legal markets should nearly triple to $16 billion by 2020 from $5.4 billion in 2015, according to market research firm Euromonitor International, and Constellation says cannabis globally could be worth $200 billion in 15 years.

Hard on the heels of a $5.1-billion deal to buy Costa Coffee last month, the move into marijuana-infused drinks fits with Coke’s moves toward a healthier product portfolio.

Cannabidiol or CBD is one of hundreds of molecules found in marijuana plants, and contains less than 0.1 percent of tetrahydrocannabinol, the psychoactive component that makes people high. It does not cause intoxication.

“Along with many others in the beverage industry, we are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world,” Coke said in its statement on Monday.

Aurora’s shares rose 14 percent while U.S-listed shares of fellow Canadian producers Canopy Growth and Tilray gained respectively 3 and 7 percent. Coca-Cola shares were marginally higher in a U.S. market struggling against expectations of another round of Chinese trade tariffs.