Dow surges 2,600 points for biggest rally in 5 years after Trump pauses some tariffs: Live updates
By: John Melloy, Hakyung Kim (CNBC)
Just like that, the progressive left must write a totally new script. How does China's threat to nationalize US investments look now? China shot an arrow into the air and guess where it fell.
Donald Trump has been a traitor to the top 1% and it's the progressive left who is upset? Looks like Rome won't burn after all. But Trump is playing the progressive left like a fiddle.
S E E D E D C O N T E N T
Stocks surged Wednesday after President Donald Trump announced a pause in some of the ‘reciprocal’ tariffs, causing a market that’s been under extreme pressure for the last week to explode higher.
The S&P 500 skyrocketed 7.8%, on pace for its biggest one-day gain in five years. The Dow Jones Industrial Average rose 2544 points, or 6.8%, also its biggest gain since 2020. The Nasdaq Composite jumped around 10%.
“I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” Trump posted on his Truth Social. Trump, in the same post, said he was raising the tariff on China higher again to 125%.
Treasury Secretary Scott Bessent later clarified that all countries except China would go back to the 10% baseline tariff rate as negotiations take place. The pause would not apply to sector tariffs, Bessent said.
Stocks that were heavily pressured by the trade war tensions led the comeback Wednesday afternoon. Apple and Nvidia soared more than 11% and 13%, respectively. Walmart shares rallied 9.7%.
“This allows for at least a near-term rally, but I would not assume that the bottom has been put in place,” said Sam Stovall, chief investment strategist at CFRA Research. “Fool me once shame on you; fool me five times, shame on me.”
Prior to the announcement of the 90-day pause, investors were on edge over an escalating tit-for-tat between China and Trump. The EU had also approved its first set of tariffs on the U.S. set to start April 15.
Nonetheless, stocks were trending higher into the afternoon. Traders were encouraged after Bessent stated he would be taking a lead negotiating role in tariff talks. President Trump also urged investors that now was “a great time to buy” shortly after the market open.
Anxiety around the rollout of the tariffs fueled a four-day rout for stocks. Over the course of the previous four trading sessions, the Dow lost more than 4,500 points, while the S&P 500 sustained a 12% loss. The Nasdaq Composite was down more than 13% in that period. These were losses not seen since the pandemic.
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Trump has even convinced Europe that the United States is their last line of defense instead Europe's first line of defense. Palestinians are protesting Hamas. A scion of the unbiased liberal press has outed himself as a security risk. The progressive left organizes a national 'Hands Off' protest that is two weeks too late. The activist judiciary is being challenged by a DOJ that won't back down.
What an amazing 79 days.
That's a lot of great stuff. It's going to be fun to watch how some spin all that.
They will follow their queens lead:
Imagine the Democrats manipulating markets...
Let the investigations begin. Who profits most?
That sucking sound you hear is turbo charged wealth transfer.
The same people that lost the most when the stock market went down
This is only the first of many freefalls and then upticks which are indicative of a market surrounded by uncertainty. We'll see it fall again shortly because nothing has actually stabilized, this is just the opportunists riding the uptick only to jump off at what they believe the peak will be just before another fall. Anyone getting their hopes up over this short-term partial recovery will be sorely disappointed.
Could be the biggest shakedown in US history.
There's no reason for it to go down much more, if any. The markets figured out what Trump is attempting to do, and more importantly, that it's working. These realities haven't dawned on the lefties
Sure, sure. You keep telling yourself whatever it takes to try and justify your vote. The "markets" haven't figured out shit and you know it. Investors are running scared, and the volatility will continue since there is no cohesive plan being put out by the administration that investors can rely on to stabilize the markets and bring back some sense of predictability. All the unknowns that the conflict with China and the continued tariffs will continue to create massive uncertainty and the idea that the US is just going to pop up a ton of manufacturing infrastructure in the next few months or even years is beyond ignorant, it's downright moronic and is just not going to happen.
Those who are pining for the manufacturing jobs and coal mining jobs of last century are going to be sorely disappointed because the buffoon in the oval office will promise them everything before stripping his middle- and low-income sycophant base of everything they have before he abandons them and laughs at what suckers they were to believe him. And sadly when that happens those morons will be screaming in rage at the "left" for not being able to stop the convicted felon and liar-in-chief from damaging our nation so badly.
Got this one marked.
The reason for the markets to go down again is uncertainty.
The recent rise is a selling opportunity. The market rose predominantly due to covering shorts and people re-buying what they sold in panic. There is little chance that Trump will produce a stable policy that people can confidently trust. Thus the market will remain volatile.
It ignores the reality of the present situation: Manufacturing left because it could not compete wage-wise...- If manufacturing returns, it will be different. Robots and such doing the assembly, because that is the way that the companies can do it most efficiently.
There is no going back to the mid 20th century. All a fantasy of the TDS inspired.
U.S. Stock Market Headlines | Breaking Stock Market News | Reuters
The unpredictability is predictable. It's not good. It's not something you want in a financial market, but based on this administrations careless, haphazard, feckless actions, one can predict that the markets will be unpredictable. All we really know is that there are now rough sea's ahead that were not only avoidable, this administration intentionally steered us into the storm. And yesterday there was a tiny ray of sunlight, and all the feckless followers were out singing their captains praises as if saving them from the storm he steered us into is something to be applauded for.
How many Trump supporters does it take to change a lightbulb?
None. Trump just tells them it's been changed and they all cheer and applaud in the dark.
This never was about anything but China. Note that 75+ countries have now come forward and want to negotiate. In other words, we win, and the disheveled Chinese can just sit back and see if they may want to get onboard.
US - 75
China - 0
Got a list? BTW penguin nations don't count.
And that is the indication you haven't been paying attention for quite a while.
No, it's an indication of how thin skinned you are.
Trump introduced chaos into the global economy with a direct impact on our domestic economy. Of course nations will try to negotiate because unlike the USA, most nations have responsible leaders. Now Trump backs off on his tariffs and the 'win' is what exactly?
Explain to us all how introducing chaos and then being the first to blink is good for us (or anyone). How can you possibly envision this as a win?
What would you call it?
Chaos. Trump clearly does not know what he is doing. Of course some will be gullible enough to simply believe whatever he says and in so doing ignore reality.
What did I say?
That comment is you claiming that the whole point of Trump's tariffs is to bring manufacturing back. (And labor-intensive manufacturing is not coming back ... tariffs cannot accomplish that.)
Are you actually trying to spin this as Trump helping the nation??
The market obviously will rebound when tariffs are lifted just as it tanked when imposed. Right now a key driver for the rebound is from people covering their shorts.
So tell us all Jim, what claim of 'being right' are you actually trying to sell to us?
This is just absurd. Trump does not know what he is doing. He is playing with fire and just got burned when Japan threatened to start dumping US bonds.
And instead of dealing with reality you spin this politically.
What is more important, the well-being of the nation of making antagonistic partisan comments?
hehehehehehe
Oh so that is how you are going to be?