Nasdaq 100 Opens Lower Ahead of Trump’s “Liberation Day” Announcement

Later today, President Donald Trump will make his hyped “Liberation Day” tariff announcement. Beyond that, little is known. The exact tariff rates and which countries will be affected have yet to be announced. The Wall Street Journal reported late yesterday that plans were still being formulated, let alone finalized. With that backdrop, all eyes will be on the Rose Garden this afternoon starting at 4 p.m. EDT.

U.S. stocks fell on tariffs news, as traders wait for more details on reciprocal tariffs. Several options are on the table, with a possible 10% or 20% blanket tariff for imports. If we get the lower end of that range, it may provide a reason to step back into the market. Tesla (TSLA) fell 3% in early trading, which dragged the market lower given its weight. Stock in nCino (NCNO) fell 25% after the cloud banking company released disappointing fourth-quarter results.