Stock Market Today: Dow Soars 3,000 Points, S&P 500 Posts Best Day Since 2008 Amid Trump Tariff Pause
Wall Street witnessed a historic rally today as the Dow Jones Industrial Average (DJI) surged over 3,000 points, and the S&P 500 (GSPC) skyrocketed 9.5%, marking its best day since 2008. This explosive move came after President Donald Trump announced a 90-day pause on most reciprocal tariffs, while simultaneously ramping up tariffs on China to 125%.
The Nasdaq Composite (IXIC) also joined the rally, spiking 12%, its second-best day ever and strongest since 2001. Big Tech stocks led the charge, with Nvidia (NVDA) gaining over 18%, Tesla (TSLA) jumping nearly 23%, and Apple (AAPL), Meta (META), and Amazon (AMZN) posting gains between 12%-15%.
Trump’s social media post read:
“I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately.”
This policy shift created a bullish wave across stock markets, boosting investor confidence and reversing steep losses from earlier in the week. Trump later noted that “yippy” markets influenced his decision, adding it was the “biggest day in financial history.”
Meanwhile, the 10-year Treasury yield (^TNX) climbed close to 4.4%, reflecting heightened investor optimism and shifting inflation expectations.
China, however, responded swiftly, escalating the US-China trade war by increasing tariffs to 84%, set to begin Thursday. Despite the tension, US equities surged as optimism returned to Wall Street.
This turnaround comes after a week of tariff volatility, with new duties on countries like Vietnam, Japan, and India hitting markets hard earlier Wednesday. Trump’s mid-day reversal sent equities into overdrive, pushing the S&P 500 and Dow out of correction territory—at least for now.
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