- S&P 500 jumps 9.5%, Nasdaq soars 12.1%, Dow adds nearly 3,000 points.
- Trump announces 90-day tariff pause for non-retaliating countries.
- Big Tech stocks lead rally: Nvidia, Tesla, Apple all post double-digit gains.
- Despite China escalation, markets embrace relief from broader trade war fears.
Wall Street Goes Wild as Trump’s 90-Day Tariff Pause Triggers One of the Biggest Market Surges in History
New York, NY — April 9, 2025
President Donald Trump triggered an epic stock market rally on Wednesday with a single post on Truth Social, easing investor panic with a 90-day tariff pause on non-retaliating countries and catapulting Wall Street into one of its biggest one-day gains in modern history.
At 1:18 p.m. ET, the former and now-current U.S. president announced that he had authorized an immediate 10% “Reciprocal Tariff” reduction, temporarily softening the administration’s hardline trade stance — and the markets erupted.
“I have authorized a 90-day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” Trump wrote.
The Impact Was Immediate.
By the closing bell:
- S&P 500 (^GSPC): +9.5% — its best day since 2008
- Nasdaq Composite (^IXIC): +12.1% — its second-largest gain ever
- Dow Jones Industrial Average (^DJI): +7.9%, or 2,962 points
From doom to boom in hours, the mood swing on Wall Street was among the most dramatic in history. “Over the last few days it looked pretty glum,” Trump commented from the White House lawn, “so I guess they say it was the biggest day in financial history. That’s a pretty big change.”
Relief Rally Unleashed
Tech stocks led the explosive rally:
- Nvidia (NVDA): +18%
- Tesla (TSLA): +22%
- Apple (AAPL): +15.3%
- Meta (META): +14.8%
- Amazon (AMZN): +12%
Even Alibaba (BABA) and JD.com (JD) rallied more than 5% and 6%, respectively, despite Trump ratcheting up China-specific tariffs to 125% on the same day.
“While uncertainty isn’t headed to zero, the worst-case scenario is off the table most likely,” said Piper Sandler’s Michael Kantrowitz, who called the move a “dose of relief” the markets desperately needed.
The Calm After the Storm
The turnaround followed a stretch of wild volatility. The S&P 500 had experienced three straight days of 6%+ intraday swings, a phenomenon only seen during market meltdowns in 1987, 2008, and 2020.
The 10-year Treasury yield surged over 50 basis points in just three days, its sharpest move since 2001. Market participants were beginning to warn of systemic stress.
“The Trump administration may be playing with liquid nitro,” wrote Ed Yardeni of Yardeni Research on Tuesday night. “Something may be about to blow up in the capital markets as a result of the stress created by the administration’s trade war.”
But for now, investors chose to celebrate — throwing caution to the wind as the clouds of trade-war panic briefly cleared.
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