The market reaction was sweeping as Trump said he would impose a 10% baseline tariff on all imports to the United States and higher duties on some of the country's biggest trading partners.

Newsmax saw its valuation soar to about $8 billion, double that of Trump Media & Technology Company, and about a third of Fox Corp's valuation.

President Donald Trump said on Wednesday he would impose a 10% baseline tariff on all imports to the United States and higher duties on some of the country's biggest trading partners, a move that could escalate a trade war and upend the global economy.

Donald Trump has just turned the world economy upside down with a wave of aggressive tariffs on America’s trading partners.

Global investors are close to getting some clarity on the Trump administration's tariff plans on Wednesday, but with little detail on what to expect, financial markets remain on edge.

Asian markets and U.S. futures tumbled Thursday following U.S. President Donald Trump’s announcement of big increases in tariffs on imports of goods from around the world. Tokyo’s Nikkei 225 index dipped more than 3.

Oil prices fell to negative territory after rising by a dollar in post-settlement trade on Wednesday as U.S. President Donald Trump announced reciprocal tariffs on trading partners, stoking concerns that a global trade war may dampen demand for crude.

Such neck-twisting turns have become routine for the U.S. stock market recently because of uncertainty about what Trump will do with tariffs.