Stocks tumbled in after-hours trading Wednesday after gaining ground during the regular session ahead of a highly anticipated announcement from President Trump on new tariffs.

U.S. stock futures are pointing to a sharply lower opening after President Donald Trump unveiled his tariff plan after the markets closed on Wednesday.

Wednesday after President Donald Trump announced tariffs for all trading partners as investors fretted over increased prices and a possible recession.

President Donald Trump's move to slap a 10% tariff on most goods imported to the United States, as well as much higher levies on dozens of rivals and allies alike, has intensified a global trade war that threatens to stoke inflation and stall growth.

Donald Trump launched a new assault on the global trading order on Wednesday, imposing a barrage of new tariffs including on all US imports in a move that sent Wall Street stock futures tumbling. The president said a levy of 10 per cent would apply to nearly all US imports from April 5 as he also revealed additional so-called reciprocal duties,

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.

There is a 'high risk' of the U.S. economy falling into a recession this year after President Donald Trump's sweeping new tariffs, Barclays said on Thursday.

U.S. stock index futures sank on Thursday after President Donald Trump's sweeping tariffs against its trading partners heightened fears of an all-out trade war that could push the global economy into a recession.