The stock market kicked off the trading week in a bloodbath, erasing last week’s gains, with all major indices posting heavy losses following President Donald Trump’s imposition of additional 10-percent tariffs on China, and the resumption of 25-percent taxes on Mexico and Canada.

The tech-heavy Nasdaq posted the biggest losses, down 2.64 percent, followed by the S&P at 1.76 percent and the Dow Jones at 1.48 percent.

According to Trump, there was no room left for Mexico and Canada, and his 25-percent tariff for the two countries “will start.” He also signed an additional 10 percent tariff on goods from China.

The overall sentiment spilled into the performance of 10 companies, which on Monday lost as high as double digits.

To come up with Monday’s top losers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

10. Archer Aviation Inc. (NYSE:ACHR)

Archer Aviation fell by 11.26 percent on Monday to close at $7.88 apiece as investors resorted to profit-taking following Friday’s gains buoyed by its earlier announcement that it would deliver its first revenue-generating Midnight aircraft later this year.

According to the company, it launched a comprehensive “Launch Edition” commercialization program for its Midnight aircraft to establish a pragmatic and repeatable playbook to deploy Midnight commercially in dozens of early adopter markets. It said that Abu Dhabi Aviation (ADA) would be its first customer for Midnight.

In its latest earnings release, ACHR said its net loss widened by 17 percent last year to $536.8 million from $457.9 million in 2023, while net loss expanded by 82 percent in the fourth quarter at $198.1 million from $109.1 million in the same period a year earlier.

Looking ahead, ACHR said it would begin producing 10 Midnight aircraft at its ARC facility in Covington, Georgia, this year to support its ongoing certification-related testing programs and deployments with key partners.

9. Oklo Inc. (NYSE:OKLO)

Oklo Inc. dropped its share prices by 12.01 percent on Monday to end at $29.38 each as investor sentiment was dampened by the US’ imposition of 25-percent tariffs on Mexico and Canada.

In particular, OKLO was hit over concerns on the status of uranium imports, with Canada being US’ largest uranium supplier, delivering 27 percent of its total supply.

Uranium is used to fuel nuclear companies’ reactors and plants.

Meanwhile, Canada promised that it would retaliate with its own tariff package against US products, triggering further tensions between the two economies.

In other news, analysts are generally bullish on OKLO given the bright prospects from the booming Artificial Intelligence industry that continues to spill over other sectors, including nuclear, as well as the US government’s plan to support the energy sector to power the country’s economy.

OKLO is set to release its financial results for 2024 on Monday, March 24, where investors will be watching out for its outlook guidance for the business.

8. Uranium Energy Corp. (NYSEAmerican:UEC)

Uranium Energy fell by 12.14 percent on Monday to close at $4.92 apiece as investors sold off positions to mitigate risks from the growing trade tensions between the United States and Canada.

UEC, which holds various uranium projects in both the US and Canada, stand to hurt from higher import prices and possible lower demand as a result of the growing trade war between the two economies.

Canada is currently US’ largest uranium producer, delivering 27 percent of its total supply, followed by Australia and Kazakhstan with 22 percent of deliveries each, according to the US Energy Information Administration.

Late last month, a Canadian uranium miner and producer already signaled that prices for US customers could rise by 10 percent if Trump’s tariff threats were to be implemented.

7. Recursion Pharmaceuticals Inc. (NASDAQ:RXRX)

Recursion Pharmaceuticals declined by 12.25 percent on Monday to close at $6.59 each as investor sentiment was dampened by disappointing earnings results for 2024.

In a statement on Friday, RXRX said it nearly doubled its net loss in the last quarter of 2024 at $179 million from $93 million in the same period a year earlier, as revenues halved to $4.5 million from $10.89 million year-on-year due to the timing of projects from the company’s Roche and Genentech collaboration.

Net loss in full-year 2024 also widened by 41 percent to $463.66 million from $328.07 million despite posting a 32-percent higher revenue at $58.8 million versus $44.58 million year-on-year due to revenue recognized from its Roche and Genentech collaboration related to the completion of its first neuroscience phenomap optioned by Roche and Genentech for $30 million.

6. Super Micro Computer Inc. (NASDAQ:SMCI)

Super Micro extended its losing streak for a third straight day on Monday, slashing 13 percent to close at $36.07 apiece as investor sentiment was dampened by news that the Singapore government was investigating whether servers shipped to Malaysia containing chips barred from China ended up in the mainland.

On Monday, Singapore’s law minister outlined specifics of the probe after news reports that police arrested several people for their key roles in procuring and shipping Nvidia chips which are in violation of US sanctions.

Authorities are now investigating if the servers, made by Dell and SMCI, made their way to other countries and to the mainland.

The case came weeks after Bloomberg News reported that the US was investigating whether Chinese artificial intelligence startup DeepSeek had bypassed US chip restrictions with the help of third parties in Singapore.

5. Celestica Inc. (NYSE:CLS)

Celestica declined for a third straight day on Monday, losing 13.31 percent to end at $92.80 apiece as investors sold off positions in Canadian companies to mitigate risks of the growing US- Canada trade tensions.

Headquartered in Canada, CLS is a company that offers hardware platform and supply chain solutions to various industries.

Just recently, the company announced that it achieved revenues of $2.55 billion in the fourth quarter of 2024, showing a 19 percent increase from the $2.14 billion in the fourth quarter of 2023.

Earnings per share during the same period also surged to $1.29 from 77 cents year-on-year.

For this year, CLS posted confidence that it would achieve improved business and earnings performance, as it raised its full-year outlook as a reflection of the strengthening demand in its Connectivity and Clouds Solutions (CCS) segment.

4. ImmunityBio Inc. (NASDAQ:IBRX)

ImmunityBio fell by 13.37 percent on Monday to finish at $2.85 apiece, weighed by an overall market sentiment, with investors shunning news of increased sales from its ANKTIVA treatment.

According to the company, it saw increased sales momentum supporting a trend of increases month-on-month and quarter-on-quarter, with February sales volume growing by 67 percent over January.

It also said that sales for the past two months alone already exceeded the overall unit sales achieved in the fourth quarter of 2024.

In other news, IBRX saw net loss in the fourth quarter of 2024 narrowed by 75 percent to $59.18 million from $233 million in the same period a year earlier, while net loss for full-year 2024 shrunk by 29 percent to $413.6 million from $583.8 million in 2023.

The improved earnings was supported by higher revenues for both the quarter and full year, which soared by 5,333 percent to $7.5 billion from $139 million and by 2,270 percent to $14.7 billion from $622 million, respectively.

3. Nebius Group NV (NASDAQ:NBIS)

Nebius Group dropped its share prices by 13.51 percent on Monday to close at $28.10 each as investor sentiment was weighed by a broader market pessimism and a negative outlook from former hedge fund manager Jim Cramer.

Last week, Cramer, who also hosts Mad Money on CNBC, said NBIS was “a big money loser that people are buying because it is part of all, of everything that’s going on right now in the cloud.”

“I don’t want to be a part of it. Period. End of story,” he was quoted as saying, adding that if investors are interested in investing in artificial intelligence, they should go with Nvidia Corp.

“I can’t get behind Nebius. If I want AI, I will go for Nvidia as it comes down,” he said.

On Tuesday, stock analysts at DA Davidson initiated a coverage on NBIS, giving the company a “buy” rating and a price target of $50 apiece, a 78-percent upside on its latest stock price.

2. VNET Group Inc. (NASDAQ:VNET)

VNET Group dropped its share prices by 15.09 percent on Monday to close at $9.96 apiece as traders turned sellers amid the ongoing trade tensions globally.

With VNET’s operations largely based in China, the ongoing trade conflicts globally would dampen investor appetite for Chinese stocks among global investors, particularly US-based shareholders.

VNET, one of the leading carriers and cloud-neutral internet data center service providers in China, has been benefiting from China’s artificial intelligence industry over the past few months on expectations that any advancement would bolster its business growth.

Since DeepSeek’s emergence, various Chinese firms, including the biggest ones listed on the US exchange, have kicked off their efforts to integrate DeepSeek into their operations.

Last year, the company also signaled plans to invest heavily in AI, even earmarking a higher capital for this year to support growth.

1. GDS Holdings Ltd. (NASDAQ:GDS)

GDS Holdings fell by 16.32 percent on Monday to close at $31.84 apiece as investors resorted to profit-taking to mitigate risks from the ongoing trade war between the US and China.

As with other Chinese firms, the trade conflict between the two economies helped dampen buying appetite among US investors.

GDS has already been hit hard, along with other Chinese firms, since Friday following President Donald Trump’s imposition of additional tariffs on Chinese goods.

Despite Monday’s drop, analysts were generally bullish on GDS’ shares, with City analyst Louis Tsang earlier raising its price target to $51.2 from $25.1 previously, while maintaining a “buy” rating. The rating was based on optimism toward growing AI data center-related spending from Chinese cloud service providers.

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Disclosure: None. This article is originally published at Insider Monkey.