Wall Street Jumps 12%, S&P 500 Logs Third-Best Day Since WWII
Over 180 countries now face reciprocal U.S. tariffs, including the EU (20%), Japan (24%), Vietnam (46%), and Taiwan (32%).
U.S. stocks surged on Wednesday, April 9, after President Donald Trump unexpectedly announced a 90-day suspension of new tariffs for countries that had not imposed retaliatory measures — while simultaneously increasing tariffs on Chinese imports.
The Dow Jones Industrial Average rose 7.87% to 40,608.45, the S&P 500 jumped 9.52% to 5,456.90, and the Nasdaq Composite soared 12.16% to 17,124.97, marking one of the strongest sessions since World War II.
Trump attempted to calm markets with a bold post on Truth Social:
“THIS IS A GREAT TIME TO BUY! Stay calm. Everything will work out. America will be greater than ever!”
The market rally followed days of turmoil triggered by an escalating tariff war. At midnight, a 104% tariff on Chinese imports took effect, with China retaliating at 84%. Over 180 countries now face reciprocal U.S. tariffs, including the EU (20%), Japan (24%), Vietnam (46%), and Taiwan (32%).
The European Union responded with its own retaliatory measures, set to take effect April 15. In a statement, the European Commission called the U.S. tariffs “unjustified and harmful,” while still expressing willingness to negotiate a “balanced and mutually beneficial” agreement.
Despite Trump’s 90-day pause for select countries, markets remain uncertain about his long-term trade strategy. Trump has hinted the tariffs could be permanent — even amid ongoing negotiations — touting the billions they bring to the U.S. Treasury.
This sudden shift in U.S. trade policy has jolted global markets, spurred retaliation from key trade partners, and raised fears of a broader economic slowdown.
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