Wall Street today: US stocks gain ahead of Trump tariff announcement | Stock Market News

US stock indices gained on Wednesday ahead of a heavily-touted new tariff announcement by President Donald Trump.

As of 12:43 PM Eastern time, the S&P 500 was up 0.5%, the Dow Jones Industrial Average was up 0.4%, and the Nasdaq Composite was 0.9% higher.

As of 11:30 AM Eastern time, the S&P 500 was up 0.4%, the Dow Jones Industrial Average was up 0.4%, and the Nasdaq Composite was 0.4% higher.

As of 10:35 AM Eastern time, the S&P 500 was flat, the Dow Jones Industrial Average was up 0.1%, and the Nasdaq Composite was 0.1% lower.

At 09:39 a.m. the Dow Jones Industrial Average fell 156.51 points, or 0.37%, to 41,833.45, the S&P 500 lost 26.55 points, or 0.47%, to 5,606.52 and the Nasdaq Composite lost 99.07 points, or 0.57%, to 17,350.82.

In the bond market, the yield on the 10-year Treasury fell to 4.14% from 4.17% late on Tuesday.

Trump Tariffs

Trump has billed the announcements as “Liberation Day” tariffs, and said the reciprocal levies are meant to address what he calls “unfair” treatment from US trading partners.

He has said that he wants tariffs to make the global trade system more fair.

His tariff measures are aimed at boosting US manufacturing, jobs market.

But, reciprocal tariffs also threaten to slow down the economic growth for the US and the world.

It could also worsen the inflation.

On Tuesday, White House spokesperson Karoline Leavitt said the tariffs on countries that impose duties on US goods would take effect once Trump announces them and a 25% tariff on auto imports will take effect on April 3.

Gainers and losers

Tesla stock fell 3% after the electric vehicle maker reported drop in sales in the first three months of the year.

Newsmax shares lost 47.9% in its third day of trading, paring some of its meteoric gains from its debut. It surged 735% on Monday and then another 179% on Tuesday.

United Airlines stock gained 1.4%.

Bullion

Gold prices rose on Wednesday, supported by safe-haven demand amid tariff uncertainties.

Spot gold was up 0.5% to $3,127.23 an ounce at 11:45 AM EDT (1545 GMT). US gold futures were up 0.7% to $3,166.30.

Spot silver rose 0.3% to $33.83, while platinum dropped 0.8% to $971.96 and palladium was down 1.2% to $972.12.

Crude oil

Oil prices fluctuated between gains and losses as traders awaited US tariff announcements.

West Texas Intermediate was little changed near $71 a barrel, while global benchmark Brent edged down toward $74.