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U.S. stocks nosedived in after-hours trading Wednesday as President Trump announced sweeping tariffs on imported products from a wide range of countries.

Trump announces extensive tariffs to revive domestic manufacturing; major ETFs drop while Bitcoin sees slight decline amid market uncertainty.

Newsmax stock price crashed 77% on Wednesday after a wild post-IPO rally. Its low share float heightens the stock's volatility.

Investing $10,000 in Bitcoin during its first halving in November 2012 would have offered you more than $70 million today as BTC's price has grown 7,000 times.

U.S. markets on Wednesday were determined to put on a brave face ahead of U.S. President Donald Trump's announcement of sweeping tariffs that will escalate a global trade war and threaten to upend the entire international trading system. Buoyed by hope or expectation that the tariffs wouldn't be as draconian as feared, U.S. indices closed in the green. The deeper analysis of the tariff fallout - lower growth and higher inflation - will be for tomorrow and beyond.

"It's our declaration of independence," Trump said at an event in the White House Rose Garden. "We will establish a minimum baseline tariff of 10%." Rates for China would be set at 34%, while the European Union and Japan would face 20% and 24%, respectively.

Luxury furniture retailer RH (NYSE:RH) missed Wall Street’s revenue expectations in Q4 CY2024, but sales rose 10% year on year to $812.4 million. Next quarter’s revenue guidance of $810.6 million underwhelmed, coming in 2.8% below analysts’ estimates. Its non-GAAP profit of $1.58 per share was 17.2% below analysts’ consensus estimates.

US stocks rebounded ahead of President Trump's tariff announcements, but stock futures fell after Trump surprised markets with larger than expected levies.

Short-term interest-rate futures now reflect about a 70% chance of a Fed rate cut when the U.S central bank meets in June, up from about 60% before the tariffs were announced. Before the announcement the contracts showed traders felt the Fed would deliver a total of three rate cuts by December.

WASHINGTON (Reuters) -Rising tariffs in the U.S. could feed into more prolonged inflation than might be expected, Fed Governor Adriana Kugler said on Wednesday, pushing back on views that prices would only rise on imported goods. "There may be reasons why tariffs have more prolonged effects" than simply causing a one-time jump in the price of imported goods, Kugler said. New tariffs already imposed by President Donald Trump, for example, target intermediate goods like aluminum and steel.