U.S. President Donald Trump has said that as part of his administration's efforts to boost domestic manufacturing, imported furniture will be subject to tariffs once an ongoing investigation into the issue concludes within the next 50 days.

Stocks for some furniture and home goods companies, including Wayfair, RH and Williams-Sonoma, tumbled after the market close, following Trump's post.

President Donald Trump said the US is conducting a “major Tariff Investigation on Furniture coming into the United States,” setting the stage for industry-specific levies.