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

Stock futures tumbled Wednesday after President Donald Trump announced tariffs for all trading partners as investors fretted over increased prices and a possible recession. At the close of the market at 4 p.

If Trump goes ahead with high, broad tariffs against all countries, as he has threatened recently, economists fear they will increase prices and slowdown the economy. However, if Trump shows restraint and narrowly targets his tariffs, investorrs will likely be relieved.