Stocks fell premarket on “Liberation Day,” when President Donald Trump is set to unveil new tariffs on virtually all countries with which the U.S. has a trading relationship. Futures linked to the S&P 500, Nasdaq 100 and the Dow Jones Industrial Average all pointed to a lower open.

Many tech shares fell before the bell on concern about the effects of the import duties. Declines as of about 9:12 a.m. EDT were 3.2% for Palantir (PLTR), 2.4% for Nvidia (NVDA), 1.5% for Meta (META), 1% for Microsoft (MSFT), 0.8% for Apple (AAPL) and 1.1% for Google’s parent Alphabet (GOOGL). Amazon (AMZN) dropped 1.7%. Tesla (TSLA) also lost ground.

The long-awaited reciprocal tariffs will be “effective immediately” after he announces them starting at 4 p.m. EDT, the White House said Tuesday. On Monday, Trump told reporters that he’s settled on a tariff plan, but declined to reveal details. One option was a 20% duty on virtually all imports, the Wall Street Journal (NWSA) reported.

The White House has downplayed the possibility that Trump will make an announcement on additional sectoral tariffs on Wednesday, saying that while the president is still committed to them, he’ll roll them out later.

Employers added 155,000 jobs in March, more than expected, rising from an upwardly revised 84,000 in February, the ADP survey showed. Factory orders, scheduled for 10 a.m., may have risen 0.5% in February, slowing from 1.7% in January, according to the consensus estimate in FactSet (FDS).

Federal Reserve Governor Adriana Kugler is scheduled to speak at 4:30 p.m. EDT on “Inflation expectations and monetary policymaking.”

Some stocks to watch today:

Newsmax

Newsmax stock shed 17% before the open after surging 179% yesterday to $233. The conservative cable news channel opened at $14 on Monday in its post-IPO trading debut.

Tesla

Tesla stock fell 4.2% premarket. The company’s first-quarter sales, due Wednesday, will probably disappoint investors, analysts said, with some trimming their forecasts to below 400,000 units. Deliveries from its Shanghai factory dropped 11.5% year-on-year in March to 78,828. Many rivals, except for Ford (F), have reported solid sales ahead of planned U.S. auto tariffs.

For the latest news, Facebook, Twitter and Instagram.