Trump's Vow To Block U.S. Steel's Sale Sends Stock Tumbling

A few hours after the American stock markets closed on Monday night, President-elect Donald Trump announced that he was "totally against" the sale of U.S. Steel to a Japan-based competitor.

"As President, I will block this deal from happening," Trump promised.

When those same stock markets opened this morning, shares of U.S. Steel sank by more than 7 percent immediately (and are down nearly 8 percent as of this moment).