President Donald Trump says his tariff announcements slated for Wednesday will amount to a “Liberation Day” for the United States.

Stocks recoiled on Wednesday, while safe-haven gold held near record highs as a nervous world awaited details of U.S. President Donald Trump's tariff plans and investors fretted about the risks of an intensifying global trade war.

U.S. stocks seesawed between gains and losses on Monday in the lead up to a promised fresh round of President Donald Trump’s tariffs on April 2, which he has dubbed “liberation day.” The market rollercoaster came a day after Goldman Sachs raised its odds of a recession within the next year from 20% to 35%,