Stock Markets Surge as Trump Enacts 90-Day Tariff Pause

Major stock indexes surged after President Trump announced a 90-day pause on many tariffs, effective immediately, although he increased duties on China. The dollar strengthened, and Treasury yields adjusted after a successful auction. Investors find relief amid earlier market volatility triggered by tariff announcements.

Stock markets experienced a significant upturn on Wednesday, driven by a surprising announcement from President Trump declaring a 90-day halt on several tariffs. This decision provided a welcome reprieve for investors who had been rattled by recent tariff-related market volatility.

While the announcement led to immediate relief in markets, Trump's decision also involved heightening tariffs on Chinese goods. The move strengthened the U.S. dollar against the yen and affected Treasury yields following a robust 10-year Treasury notes auction.

Market strategist Steve Sosnick remarked on the optimistic market response, stating it was understandable despite expectations that the tariffs were non-negotiable. The Dow Jones, S&P 500, and Nasdaq all reported significant gains, contributing to an uplift in global stock indices.

(With inputs from agencies.)