U.S. President Donald Trump was expected to impose sweeping new reciprocal tariffs on global trading partners on Wednesday, upending decades of rules-based trade, risking cost increases and likely drawing retaliation from all sides.

Stocks are hovering near their lowest levels of the year, with President Trump's latest tariff announcements and fears about the US economy's path forward sending equities lower in the final full week of the first quarter.

Stocks are hovering near their lowest levels of the year, with President Trump's latest tariff announcements and fears about the US economy's path forward sending equities lower in the final full week of the first quarter.

Global stocks slipped as investors awaited more clarity on US tariff plans and the economic outlook before President Donald Trump’s April 2 deadline to impose a fresh trade levies. In premarket trading, shares in Tesla Inc. and Nvidia Corp. edged lower. Video game retailer GameStop Corp. jumped 12% after it said its board approved adding Bitcoin as a treasury reserve asset.

Nvidia stock was edging down early on Tuesday. The chip maker doesn’t look to have fully escaped the threat of tariffs on semiconductors. Nvidia shares were down 1.1% at $120.13 in premarket trading, while futures tied to the benchmark S&P 500 index were dropping 0.2%. The stock rose 3.2% on Monday.

Stocks struggled to gain steam last week as uncertainty around President Trump's tariff plans continued to loom over markets. The S&P 500 popped about 0.5% while the Dow Jones Industrial rose more than 1%. The tech-heavy Nasdaq Composite added nearly 0.2%. This week, a reading of the Fed's preferred inflation gauge will highlight the economic releases.