Wall Street was poised to open with losses as markets anxiously waited to hear the details of President Donald Trump’s latest tariff announcement.

U.S. stocks sold off Wednesday as investors awaited an announcement about the scope of U.S. tariffs against trading partners. The broad S&P 500 lost 1.1%, or 61 points, to trade near 5,572 after the opening bell.

Too soon to declare the ‘all clear,’ the market will likely remain volatile and idiosyncratic,” says Lisa Shalett, Chief Investment Officer at Morgan Stanley