New Delhi, April 2 -- US stock indices drifting on Wednesday ahead of a heavily-touted new tariff announcement by President Donald Trump.

As of 10:35 AM Eastern time, the S&P 500 was flat, the Dow Jones Industrial Average was up 0.1%, and the Nasdaq Composite was 0.1% lower.

At 09:39 a.m. the Dow Jones Industrial Average fell 156.51 points, or 0.37%, to 41,833.45, the S&P 500 lost 26.55 points, or 0.47%, to 5,606.52 and the Nasdaq Composite lost 99.07 points, or 0.57%, to 17,350.82.

In the bond market, the yield on the 10-year Treasury fell to 4.14% from 4.17% late on Tuesday.

Trump has billed the announcements as "Liberation Day" tariffs, and said the reciprocal levies are meant to address what he calls "unfair" treatment from US tra...