In Singapore, Asian stocks showed uncertainty on Wednesday, with gold remaining close to historic highs amidst anticipation for U.S. President Donald Trump's tariff announcements. Investors are worried about the escalating global trade tensions and the impact on the markets.

There is a focus on the upcoming reciprocal tariffs that the White House is set to reveal. Trump has already imposed tariffs on various products, sparking concerns about a potential worldwide economic slowdown due to a full-scale trade conflict.

Asian stocks experienced a decline at the start of trading, following a turbulent session in the U.S. Japan's Nikkei and South Korea's main index both saw a decrease. The U.S. markets, however, finished with the S&P 500 and Nasdaq closing higher after a volatile trading day.

The trading environment is characterized by uncertainty, with market participants adjusting their positions cautiously. Chinese stocks had a mixed opening, while Hong Kong's Hang Seng saw a slight decline early on.

Investors remain wary as uncertainty surrounding tariffs persists even after "Liberation Day" on April 2. The fear of further escalation and potential retaliation from other countries continues to weigh on market sentiment.

Apart from trade tensions, concerns are mounting over rising prices, slowing growth, and weakening job market indicators. U.S. manufacturing contracted in March, while inflation levels increased, partly attributed to concerns over imported goods subject to tariffs.

Additionally, a report revealed a decrease in U.S. job openings in February, suggesting that labor demand has been impacted by the uncertainty surrounding tariffs. The markets are keeping a close watch on these developments as they navigate through the intricate landscape of global trade dynamics.