That's standard regulation, light speed commerce, ringing the closing belt. The New York Stock Exchange

Tabula doing the honors of the NASDAQ. So much for a comeback. Stocks taking a turn lower,

as tariff fears ramp up and as chip stocks sold off today, the NASDA finishing down by 2%. That is

the scorecard on Wall Street, but the action is just getting started. Welcome to Closing Belt overtime.

I'm Morgan Brennan at CNBC headquarters. And I'm John Ford in San Francisco. Coming up, President

Trump is expected to make remarks this hour about auto tariffs. We will take you to the White

House for a preview in just a moment. Plus, JPMorgan, Chief Global Strategist, David Kelly,

will join us to weigh in on today's steep market

pullback and where we go from here. And we will talk about the serious pain for the chips today

as Nvidia leads that sector lower. We begin with the latest volley in the trade war, though.

President Trump expected to announce new auto tariffs this hour. Megan Casella has the latest, Megan.

John, that's absolutely right.

We are waiting for the president to speak from the Oval Office any moment now.

He has already confirmed that he will be placing tariffs on car imports coming into the U.S.

What we don't know are any of the further details there.

We don't know the rate of those tariffs.

We don't know whether there will those tariffs. We don't know whether

there will be any exemptions for specific countries, for specific aspects of those cars. We also don't

know whether tariffs will be only on finished cars or on car parts as well. So a lot of questions,

a lot of things to watch for once the president starts speaking, anything along those lines.

Any exemptions, for example, could sort of soften the impact, speaking. Anything along those lines, any exemptions,

for example, could sort of soften the impact, but we have seen those auto stocks taking a hit

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