Nvidia stock was sliding on Monday as investors’ recession fears overshadowed more signs that demand for the artificial-intelligence chip maker’s products remains sky-high. Shares slipped 2.4% to $110.

The Nasdaq fell 2.6% Monday after Trump vowed to implement the Canada and Mexico tariffs, as the tech index is down 8.5% from its all-time high set less than two weeks ago.

Nvidia (NASDAQ: NVDA) has become a stock market giant thanks to its dominance in one of today's highest-growth markets: artificial intelligence (AI), a $200 billion market that analysts say is heading for $1 trillion by the end of the decade.