Steel stocks fell sharply in pre-market trading Thursday after President Donald Trump's "Liberation Day" tariffs took effect, bringing in a 10% duty on all countries and additional reciprocal tariffs across 185 nations.

Investors are in for a rude awakening if they expect today's tariff revelations to provide a definitive end to market volatility. Traders have offered their best guesses on the tariffs' impact.

All eyes are on the tariff announcements that U.S. President Donald Trump is expected to make at 4 p.m. EST on April 2, a day which he refers

Liberation Day” tariffs set to start on April 2 will drive up new home prices by several thousand dollars and curb development, builders warn.

President Trump announced the U.S. will impose a minimum baseline of 10% tariffs on goods imported from all foreign countries, along with further "reciprocal tariffs."