The S&P 500 climbed Tuesday after cutting come losses as tech jumped despite cautious sentiment on risk assets ahead of President Donald Trump’s April 2 tariff announcements.

At 4:00 p.m. ET, the Dow Jones Industrial Average fell 11 points, or 0.03%, the S&P 500 index traded up 0.4%, and the NASDAQ Composite rose 0.9%.

The broad-based S&P 500 lost nearly 5% in the first quarter of 2025, the tech-heavy NASDAQ Composite suffered an over 10% quarterly plunge, while the blue chip Dow Jones Industrial Average lost nearly 2% in the first quarter.

Trump reciprocal tariffs to be impose immediately

President Donald Trump is set to impose reciprocal tariffs on a broad range of trading partners on Apr. 2 that will go into effect immediately on Apr. 2, White House press secretary Karoline Leavitt said on Tuesday. 

Revoking diminish exepctions against China -- allows small packages under 100 to come in duty free. 

"My understanding is that the tariff announcement will come tomorrow. They will be effective immediately,” Leavitt said.

Trump is considering a range of measures that could include a blanket tariff as high as 20%, a tired-tariff measure or a customized country by country basis.

Trump is expected to announce the details of the administration’s reciprocal tariffs at 3:00 p.m. ET.

This initiative, referred to as "Liberation Day," will be followed by a 25% tariff on auto imports starting April 3.

These measures are expected to significantly impact global trade dynamics and have raised concerns about their potential to contribute to recession risks.