Stocks slumped on Wednesday ahead of President Trump's statement of tariffs on car imports, as investors braced for levies that could interrupt carmakers' supply chains and raise costs for consumers.The S&P 500 fell

roughly 1.1 percent for the day, and the tech-heavy Nasdaq Composite was 2 percent lower. The recession showed ongoing volatility in the stock market, which has been sustained by Mr. Trump's whiplash on trade policies and issue amongst financiers that sweeping tariffs could reignite inflation and slow down the U.S. economy.Shares of many major automakers dropped on news from the White Home that Mr. Trump would announce new automobile tariffs Wednesday afternoon– and they extended their decreases after he unveiled prepare for 25 percent tariffs on all vehicles shipped to the United States. General Motors, which was down more than 3 percent when markets closed, tumbled another 5 percent in post-market trading. Toyota likewise fell further, while Ford's stock, which had ended the day slightly greater, removed its modest gains in after-hours trading, plummeting about 5 percent.Shares of Tesla were more than 5 percent lower when markets closed, but

its stock inched up in post-market trading. Tesla shares quit some gains after the Trump administration stated that imported car parts would face tariffs, too. The stock market has actually dropped over the past month, a wave of offering that at one point left the S&P 500 more

than 10 percent below its Feb. 19 peak. Despite some current daily gains, Wall Street belief continues to be moistened by issues that Mr. Trump's tariffs and a trade war could push costs sharply greater, prevent customers and damage the economy. Source