Wall Street tumbles on uncertainty over Liberation Day

US stocks finished mixed on Tuesday on a quiet trading day as investors braced for Donald Trump's tariff announcement, which he has dubbed "Liberation Day".The US president has not unveiled the details of his plan, leaving traders guessing ahead of the announcement, which the White House has now penned for Wednesday at 4pm local time in Washington (2000 GMT), after Wall Street markets close.The Dow Jones Industrial Average slipped less than 0.1 percent to 41,989, while the broad-based S&P 500 shook off a recent slump to close up 0.4 percent at 5,633.The tech-rich Nasdaq Composite also finished in the green, gaining 0.9 percent to 17,449, a day after posting its worst quarter since 2022.All the nervousness in the market helped push the price of gold to records, and it briefly topped US$3,175 per ounce - that’s up from less than US$2,700 at the start of the year. In stocks, Tesla charged 3.6 percent higher a day ahead of reporting how many vehicles it delivered during the first three months of the year. On the losing end of Wall Street was Johnson & Johnson, which dropped 7.6 percent after a US bankruptcy court judge denied the company’s settlement plan related to baby powder containing talc. It’s the third time the company’s attempt to resolve the baby powder settlement through bankruptcy has been rejected by courts.Lululemon Athletica led the market lower with a drop of 14.2 percent, even though the seller of athletic apparel reported a stronger profit for the latest quarter than analysts expected. Oxford Industries, the company behind the Tommy Bahama and Lilly Pulitzer brands, likewise reported stronger results for the latest quarter than expected but still saw its stock fall 5.7 percent. (Agencies)

US stocks finished mixed on Tuesday on a quiet trading day as investors braced for Donald Trump's tariff announcement, which he has dubbed "Liberation Day". The US president has not unveiled the details of his plan, leaving traders guessing ahead of the announcement, which the White House has now penned for Wednesday at 4pm local time in Washington (2000 GMT), after Wall Street markets close. The Dow Jones Industrial Average slipped less than 0.

1 percent to 41,989, while the broad-based S&P 500 shook off a recent slump to close up 0.4 percent at 5,633. The tech-rich Nasdaq Composite also finished in the green, gaining 0.

9 percent to 17,449, a day after posting its worst quarter since 2022. All the nervousness in the market helped push the price of gold to records, and it briefly topped US$3,175 per ounce - that’s up from less than US$2,700 at the start of the year. In stocks, Tesla charged 3.

6 percent higher a day ahead of reporting how many vehicles it delivered during the first three months of the year. On the losing end of Wall Street was Johnson & Johnson, which dropped 7.6 percent after a US bankruptcy court judge denied the company’s settlement plan related to baby powder containing talc.

It’s the third time the company’s attempt to resolve the baby powder settlement through bankruptcy has been rejected by courts. Lululemon Athletica led the market lower with a drop of 14.2 percent, even though the seller of athletic apparel reported a stronger profit for the latest quarter than analysts expected.

Oxford Industries, the company behind the Tommy Bahama and Lilly Pulitzer brands, likewise reported stronger results for the latest quarter than expected but still saw its stock fall 5.7 percent. (Agencies).