Digital stock market chart on a tablet screen/Envato Market
By Stefan J. Bos, Chief International Correspondent Worthy News
NEW YORK (Worthy News) – Stocks surged to one of their biggest single-day gains since World War Two after U.S. President Donald J. Trump paused tariffs on imported goods from most nations except China.
The S&P 500 index of the leading U.S.-based stocks rallied to one of its biggest post-war days.
With stocks rising to one of their biggest post-war gains, Wall Street traders were seen smiling again.
The tech-heavy Nasdaq stock exchange soared to its best performance since 2001 after Trump announced he would pause numerous tariffs for 90 days, giving traders reasons to smile.
However, he increased the rate of imports from China, the world’s second-largest economy, by 125 percent.
The Nasdaq roared ahead 12 percent, its best day in 24 years. The S&P 500 added 9.5 percent, its biggest gain since 2008, while the Dow Jones Industrial Average moved ahead 7.9 percent, its biggest day since 2020.
The 2,963-point rally in the blue-chip index was its largest point gain on record, according to Dow Jones Market Data.
TURBULENT DAY
It came after a turbulent day that saw significant stock indexes sinking in Asia and Europe.
The moves started shortly after 1 p.m. in New York when the president’s writings on his Truth Social media platform lifted all three major indexes in minutes.
“More than 75 Countries,” Trump wrote, “have called to negotiate a solution..and have not, at my strong suggestion, retaliated in any way, shape, or form.”
Because of that, he wrote, “I have authorized a 90-day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately.”
Ironically, the White House earlier denied reports that the president was considering pausing the tariffs, Worthy News reported.
With Wall Street souring, similar rallies were due in Asia and Europe, though the world still faces uncertainty over global trade relations in the Trump era.
The post US Stocks See Biggest Gains Since World War Two appeared first on Worthy Christian News.
