Dow Jones futures plunged overnight, along with S&P 500 futures and Nasdaq futures. They sold off as President Donald Trump unveiled "reciprocal" tariffs vs. the world that were much higher than investors had feared.

The Dow Jones Industrial Average gained 415, or 1.1%, while the S &P 500 climbed 0.5%. The tech-heavy Nasdaq ticked down 0.1%. Tesla, the electric carmaker led by billionaire Trump-advisor Elon Musk, dropped 1.5%.

Most equity indexes are holding close to flat on Tuesday. However, the Dow Jones is still trading around 200 points below Monday’s closing prices, cycling near 41,800. The Standard & Poor’s 500 eased slightly, falling below 5,600, while the Nasdaq Composite holds steady near 17,300.

Wall Street skidded on Friday amid higher-than-expected inflation data and fears about the impact of President Trump's tariffs.

Tariffs could greatly impact corporate profits, global growth, inflation, and Federal Reserve interest rate decisions. At the start of the year, investors were optimistic about the Trump administration's pro-growth policies,

The Indian government has established a control room to monitor US President Donald Trump’s tariff announcements. The move comes as Trump is set to impose reciprocal tariffs on key trading partners, including India.

President Trump announced reciprocal tariffs affecting over 180 countries, including a 26% tariff on India. The market reacted negatively, with sectors like IT and automobiles expected to face pressure.

US Stock Market on April 2, Donald Trump Tariff Announcements: The Dow Jones Industrial Average (DJIA), the S&P 500 and the Nasdaq Composite traded firmly in the green, as investors digester the Donald Trump administration’s reciprocal tariffs on US trade parners including India.

The slump came after President Trump announced a range of tariffs on imports, including 24% on goods from Malaysia, 36% on Thailand, and 44% on Sri Lanka. Ansell, which makes gloves, suits and other items, has large manufacturing facilities in all three countries.