Wall Street strategists see an increasing chance their worst-case scenario for stocks in 2025 comes to fruition if Trump's trade war intensifies.

Investors are looking for signs the selling in the U.S. stock market may have reached a crescendo, but say that the check marks are not yet all ticked and there is room for further pain.

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.