Market Euphoria: S&P 500's Record Surge Amid Tariff Pause

The S&P 500 jumped 9.5% as President Trump announced a 90-day tariff pause, alleviating investor concerns about U.S. trade policies. The market rallied following the worst four-day percentage loss since the pandemic. Wall Street indices surged, with large technology stocks and treasury auctions boosting confidence.

The S&P 500 soared 9.5% on Wednesday, marking its largest single-day gain since 2008, following President Donald Trump's decision to enact a 90-day tariff pause. This action provided much-needed respite for investors concerned about the global economic impact of recent U.S. trade policies.

The announcement was made shortly after hefty tariffs took effect, triggering a significant market rally. Although tariffs on China increased to 125%, the pause allowed traders to seize the opportunity to purchase undervalued stocks, propelling Wall Street's major averages upward.

Technology stocks were particularly instrumental in the market's recovery, with substantial contributions from giants like Nvidia and Apple. The U.S. Treasury's successful 10-year note auction further bolstered investor sentiment, while the Federal Reserve's meeting minutes revealed ongoing concerns about inflation and growth risks.

(With inputs from agencies.)