Global markets are tense as investors await President Donald Trump's much-anticipated "Liberation Day" tariff announcement.

Here are some notable moves across sectors in global markets, following President Trump’s “Liberation Day” tariffs. 🍾 Alcoholic drinks Some investors turned to drink: Scotch producer Diageo and Aperol maker Campari were among the few risers in Europe.

Wednesday’s upcoming tariff announcements provide a wide range of possible outcomes. The uncertainty and downside risks to the economy and earnings have rattled markets.

President Trump will announce widespread tariffs on April 2, an event he’s referring to as “Liberation Day.” The fact that Liberation Day may determine what happens to stocks next has caught the attention of veteran analyst Tom Lee of FundStrat.