U.S. stocks whipped through another dizzying day Wednesday in the final hours before President Donald Trump’s unveiling of the tariffs promised as part of his “Liberation Day,” which could drastically remake the global economy.

The S&P 500 rose 0.7%, but only after careening between an earlier loss of 1.1% and a later gain of 1.1%.

The Dow Jones industrial average added 235 points, or 0.6%, and the Nasdaq composite climbed 0.9%.

Elon Musk’s Tesla helped knock the market around after initially falling more than 6% following a report that it delivered fewer electric vehicles in the first three months of the year than it did in last year’s first quarter. It ended with a gain of 5.3%.

After the market closed, Trump declared a 10% baseline tax on imports from all countries and higher tariff rates on dozens of nations that run trade surpluses with the United States.

Among the companies whose shares fell in after-hours trading were Deckers Outdoor, the maker of Uggs, down 9.3%; Lululemon was down 8.8%; and home products retailer Williams-Sonoma was down 8.4%.

Treasury yields swung in the bond market, echoing the indecision seen in the stock market.

The yield on the 10-year Treasury fell as low as 4.11% in the morning from 4.17% late Tuesday and from roughly 4.80% early this year. But it later rose to 4.18%.

On Wall Street, Newsmax fell 77.5% in its third day of trading to give back some of the meteoric gains from its debut at the start of the week. It surged 735% Monday and then another 179% on Tuesday.

All told, the S&P 500 rose 37.90 points to 5,670.97. The Dow added 235.36 to 42,225.32, and the Nasdaq composite climbed 151.16 to 17,601.05.

— Associated Press