Stock market tumbles after Trump's 'Liberation Day' tariffs

The stock market fell significantly Thursday after President Donald Trump‘s “Liberation Day” tariffs announcement.

Trump announced the most recent round of tariffs, which slapped over 180 countries with a 10% tariff and 57 with additional tariffs, after markets closed at 4 p.m. Wednesday, meaning the main effect of the announcement in the United States only occurred after markets opened at 9:30 a.m. Thursday. However, the announcement already affected futures, which, for the S&P 500, declined 3.4% before the market opened, for the Dow Jones Industrial Average by 2.8%, and for the Nasdaq by 3.8%.