The reaction to Trump's sweeping tariffs announcement didn't take long to hit the U.S. stock market, with Dow Futures plummeting over 1,000 points by Wednesday evening.

US stocks plunged in after-hours trading Wednesday as investors digested President Donald Trump’s decision to impose sweeping tariffs that could escalate a growing trade war and upend the global economy.

U.S. stock futures were dropping after President Donald Trump announced broad tariffs on foreign trading partners. Just after 6:30 p.m. on Wednesday, Dow Jones Industrial Average futures fell 1,148 points,

Global investors are close to getting some clarity on the Trump administration's tariff plans on Wednesday, but with little detail on what to expect, financial markets remain on edge.

US President Donald Trump announces universal 10% tariffs on all imports into the US will go into effect on 5 April in a watershed moment for global trade. Watch BBC's live covera

US President Donald Trump announced the long-awaited “Liberation Day” reciprocal tariffs at the White House Rose Garden. Global markets shifted into “risk-off” mode, with US stock futures tumbling sharply and gold surging to a new high.

President Donald Trump declared on Wednesday a 10% baseline tax on imports from all countries and higher tariff rates on dozens of nations that run trade surpluses with the United States, threatening to upend much of the architecture of the global economy and trigger broader trade wars.

Global shares edged higher in choppy trading on Tuesday, while safe-haven gold soared to a record peak as markets awaited details of U.S. President Donald Trump's tariff plans.

Canada's main stock index opened lower on Tuesday, hurt by losses in heavily-weighted financials, as investors adopted a cautious stance ahead of U.S. President Donald Trump's planned announcement of reciprocal tariffs on Wednesday.