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Bloomberg Quint
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US Stocks Surge Most In Five Years As Trump Delays Some Tariffs
- US stocks surged on Wednesday as President Trump announced a pause on some tariffs, leading to the S&P 500's largest gain since March 2020.
- The S&P 500 Index surged over 7% in afternoon trading, with all sectors rising at least 2.5% and the Nasdaq 100 Index jumping 9%.
- Trump's announcement of a 90-day pause on tariffs was positively received in the market, with major stocks like Delta Air Lines and Tesla seeing significant gains.
- The exclusion of tariffs on China raised concerns among investors, with uncertainties remaining about the impact on the economy.
- Amid market volatility, retail traders bought $719 million in the first hour of trading, showing increased activity.
- Investors are closely monitoring market levels for signs of a bottom, with technical levels like 4,910 and 5,000 being key areas of interest.
- US companies, including Amazon and Delta Air Lines, are already feeling the impact of tariffs, with cancellation of orders and revised financial guidance.
- Concerns about downside risks to both markets and the economy persist due to factors like uncertainty in trade policies and lower sentiment.
- Oil and gas producers experienced drops in stock prices amid escalating trade tensions and decreasing energy demand.
- The market response to Trump's tariff announcement reflects a mix of optimism, caution, and ongoing challenges for businesses and investors.
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