Trump has repeatedly called April 2 “Liberation Day,” with promises to roll out a set of tariffs, or taxes on imports from other countries, that he says will free the U.S. from a reliance on foreign goods. To do this, Trump has said he’ll impose “reciprocal” tariffs to match the duties that other countries charge on U.S. products.

Assessing whether Trump's recent aggressive tariff talk is all bluster, no muster kept stocks volatile on Tues. S&P 500 erases early losses to end up.