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Barchart
Barchart
Rich Asplund

Stocks Plunge Late Wednesday on 'Liberation Day' Tariff Announcement

Donald Trump United States SP Invesco QQQ Trust Elon Musk ADP ECB ETF TikTok US Federal Reserve

Stocks are tumbling in after-hours trading after President Trump unveiled details of his “Liberation Day” tariff plans. The Invesco QQQ Trust (QQQ) is down -3.44% after ending the regular session up +0.73%, while the SPDR S&P 500 ETF (SPY) has plunged -2.45%, more than erasing its Wednesday gain of +0.63%.

The White House said that baseline tariffs of 10% will go into effect as of April 5, with higher rates set to go into effect April 9. The tariffs came in higher than expected, with China among those hardest hit; the total tariff rate is now at 54% on Chinese imports.

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