The Market Rollercoaster: Trump’s Tariff Pause and Its Global Impact
By Olivia Reed / Apr 10, 2025
In a dramatic turn of events that sent shockwaves through global financial markets, President Donald Trump announced a 90-day pause on the “reciprocal” tariffs that had just taken effect on Wednesday. This decision, which excludes China, marks a significant shift from Trump’s previous stance that high tariffs were here to stay. The announcement came as a relief to Wall Street, which had been on edge, anxiously awaiting any sign that Trump might soften his approach to tariffs. The immediate impact was a historic rally in US stocks, with the Dow Jones Industrial Average surging 2,963 points, or 7.87%, the S&P 500 rising 9.52%, and the tech-heavy Nasdaq Composite soaring 12.16%. This marked the best day for the S&P 500 since October 2008 and the third-best day for the index since its modern-day version was formed in 1957. The Nasdaq posted its best day since January 2001 and its second-best day in its history, while the Dow had its best day in five years.