Liberation Day: How Stock Markets Are Reacting

By

Hugh Cameron is Newsweek U.S. news reporter based in London, U.K. with a focus on covering American economic and business news. Hugh joined Newsweek in 2024, having worked at Alliance News Ltd where he specialised in global and regional business developments, economic news, and market trends. He graduated from the University of Warwick with a bachelor’s degree in politics in 2022, and from the University of Cambridge with a master’s degree in international relations in 2023. Languages: English. You can get in touch with Hugh by emailing h.cameron@newsweek.com

Hugh Cameron

U.S. News Reporter

Global stock markets are on edge as investors brace for President Donald Trump‘s highly anticipated announcement of his “Liberation Day” tariffs.

What To Know

Trump is scheduled to speak at the White House’s Rose Garden at 4 p.m. Eastern Time. Joined by members of his cabinet, the president is expected to unveil a raft of new tariffs, as well as details on “reciprocal tariffs.”

Details on the scope of these new measures have so far remained unclear, such as which countries will be targeted and the rate at which their imports will be taxed.

Politico, citing anonymous White House and administration officials, reported that even members of Trump’s own inner circle were not yet sure what duties would be unveiled on Liberation Day.

There are also reports that the president may unveil a universal 20 percent tariff on all goods imported to the U.S., though his administration has yet to confirm this.

Alongside the reciprocal tariffs, the administration has also warned of a 25 percent blanket tariff on all imports from countries that purchase Venezuelan oil “on or after April 2, 2025.”

The U.S.

As of mid-session on Wednesday, the Dow Jones Industrial Average and S&P 500 are both up 0.4 percent, while the Nasdaq Composite is up 0.6 percent.

Asia

Asian stocks have put on a mixed performance. The CSI 300 fell around 0.1 percent, with the MSCI China index down fractionally at the closing bell. The Shenzhen Component Index and S&P China 500 Index both gained around 0.1 percent.

The SSE Composite Index, featuring all stocks traded on the Shanghai Stock Exchange, was up 0.1 percent, with Hong Kong’s Hang Seng Index ending the day marginally lower.

Japan’s TOPIX closed down 0.4 percent on Wednesday, while the Nikkei 225—comprising 225 of the largest publicly traded companies on the Tokyo Stock Exchange—gained 0.3 percent.

South Korea’s benchmark KOSPI Index fell 0.6 percent on Wednesday.

Europe

The majority of Europe’s leading indexes closed the day with modest declines.

The EURO STOXX 50 and STOXX EUROPE 600 indexes were down 0.4 and 0.6 percent, respectively, while the MSCI Europe—which measures the performance of large and mid-cap stocks across 15 developed European markets—fell 0.1 percent.

Meanwhile, the United Kingdom’s FTSE 100 shed 0.3 percent, though the FTSE 250 ended the day 0.3 percent higher.

Elsewhere, Australia’s S&P/ASX 200 index closed up 0.1 percent, while the FTSE/JSE Africa All Shares Index—featuring all listed companies on the Johannesburg Stock Exchange—closed down 0.9 percent.

What People Are Saying

White House press secretary Karoline Leavitt, in response to a question on a universal 20 percent flat tariff, said: “The president said last night he has made a decision in a determination…and he is going to announce that decision tomorrow. I don’t want to get ahead of the president, this is obviously a very big day. He is with his trade and tariff team right now, perfecting it to make sure this is a perfect deal for the American people and the American worker, and you will all find out in about 24 hours from now.”

What Happens Next

Leavitt said that all new tariffs announced by the president on Wednesday would be “effective immediately.”

The separate 25 percent global tariff on auto imports will take effect on April 3, with those on car parts taking effect “no later than May 3.”

By

Hugh Cameron is Newsweek U.S. news reporter based in London, U.K. with a focus on covering American economic and business news. Hugh joined Newsweek in 2024, having worked at Alliance News Ltd where he specialised in global and regional business developments, economic news, and market trends. He graduated from the University of Warwick with a bachelor’s degree in politics in 2022, and from the University of Cambridge with a master’s degree in international relations in 2023. Languages: English. You can get in touch with Hugh by emailing h.cameron@newsweek.com

Hugh Cameron

U.S. News Reporter

Global stock markets are on edge as investors brace for President Donald Trump‘s highly anticipated announcement of his “Liberation Day” tariffs.

What To Know

Trump is scheduled to speak at the White House’s Rose Garden at 4 p.m. Eastern Time. Joined by members of his cabinet, the president is expected to unveil a raft of new tariffs, as well as details on “reciprocal tariffs.”

Details on the scope of these new measures have so far remained unclear, such as which countries will be targeted and the rate at which their imports will be taxed.

Politico, citing anonymous White House and administration officials, reported that even members of Trump’s own inner circle were not yet sure what duties would be unveiled on Liberation Day.

There are also reports that the president may unveil a universal 20 percent tariff on all goods imported to the U.S., though his administration has yet to confirm this.

Alongside the reciprocal tariffs, the administration has also warned of a 25 percent blanket tariff on all imports from countries that purchase Venezuelan oil “on or after April 2, 2025.”

The U.S.

As of mid-session on Wednesday, the Dow Jones Industrial Average and S&P 500 are both up 0.4 percent, while the Nasdaq Composite is up 0.6 percent.

Asia

Asian stocks have put on a mixed performance. The CSI 300 fell around 0.1 percent, with the MSCI China index down fractionally at the closing bell. The Shenzhen Component Index and S&P China 500 Index both gained around 0.1 percent.

The SSE Composite Index, featuring all stocks traded on the Shanghai Stock Exchange, was up 0.1 percent, with Hong Kong’s Hang Seng Index ending the day marginally lower.

Japan’s TOPIX closed down 0.4 percent on Wednesday, while the Nikkei 225—comprising 225 of the largest publicly traded companies on the Tokyo Stock Exchange—gained 0.3 percent.

South Korea’s benchmark KOSPI Index fell 0.6 percent on Wednesday.

Europe

The majority of Europe’s leading indexes closed the day with modest declines.

The EURO STOXX 50 and STOXX EUROPE 600 indexes were down 0.4 and 0.6 percent, respectively, while the MSCI Europe—which measures the performance of large and mid-cap stocks across 15 developed European markets—fell 0.1 percent.

Meanwhile, the United Kingdom’s FTSE 100 shed 0.3 percent, though the FTSE 250 ended the day 0.3 percent higher.

Elsewhere, Australia’s S&P/ASX 200 index closed up 0.1 percent, while the FTSE/JSE Africa All Shares Index—featuring all listed companies on the Johannesburg Stock Exchange—closed down 0.9 percent.

What People Are Saying

White House press secretary Karoline Leavitt, in response to a question on a universal 20 percent flat tariff, said: “The president said last night he has made a decision in a determination…and he is going to announce that decision tomorrow. I don’t want to get ahead of the president, this is obviously a very big day. He is with his trade and tariff team right now, perfecting it to make sure this is a perfect deal for the American people and the American worker, and you will all find out in about 24 hours from now.”

What Happens Next

Leavitt said that all new tariffs announced by the president on Wednesday would be “effective immediately.”

The separate 25 percent global tariff on auto imports will take effect on April 3, with those on car parts taking effect “no later than May 3.”