Market Euphoria: U.S. Stocks Soar Amid Trump's Tariff Freeze

U.S. stock markets surged following President Donald Trump's announcement of a 90-day pause on certain tariffs. The Nasdaq jumped about 10%, as the dollar strengthened against other currencies. The move relieved investors concerned about potential economic impacts from the tariffs initially imposed by Trump.

Major stock indexes experienced a substantial boost on Wednesday, marked by the Nasdaq's 10% climb, following President Donald Trump's decision to announce a 90-day suspension on several reciprocal and 10% tariffs. Despite increasing tariffs on China, this move led to a strengthened U.S. dollar against the yen and other currencies.

Last week's declaration of comprehensive tariffs by Trump had unsettled markets, causing a significant sell-off. As Steve Sosnick, chief market strategist at Interactive Brokers, noted, the relief rally was anticipated amid concerns that the tariffs could potentially instigate a recession.

The Dow Jones Industrial Average augmented its value by 2,541.92 points, the S&P 500 elevated by 392.26 points, and the Nasdaq Composite saw a 1,529.03 point rise. Furthermore, global stocks observed an increase, echoed by a 4.52% rise in MSCI's worldwide stock gauge.

(With inputs from agencies.)