Trump Tariff Pause: Nasdaq Up 12%, US Stocks See Massive Rally
Published • 10 April 2025 at 5:33 AM
U.S. Stocks Rally After Trump's 90-Day Tariff Halt
U.S. stocks surged on President Donald Trump's announcement of a 90-day tariff pause for most countries, excluding China, fueling a massive rally. The Nasdaq jumped by 12.2% (1,857.06 points) to 17,124.97, the S&P 500 spiked 9.5% (474.13 points) to 5,456.90, and the Dow soared 7.9% (2,962.86 points) to 40,608.45. The rally followed Trump's decision to halt new tariffs for 90 days to allow for trade negotiations, with a universal 10% tariff level during this period, except for China. The move came after China retaliated with a 50% tariff hike on U.S. goods. Semiconductor stocks led the charge, with the Philadelphia Semiconductor Index rising 18.7%, while airline and oil service stocks saw impressive gains. The NYSE Arca Airline Index surged 15.3%, and the Philadelphia Oil Service Index rose 12.9%. Major sectors like computer hardware, software, and networking also posted strong gains. Global markets responded with mixed results, as Japan's Nikkei 225 dropped 3.9%, while China's Shanghai Composite gained 1.3%. European markets experienced significant losses, with France's CAC 40 dropping 3.3%, Germany's DAX tumbling 3%, and the UK's FTSE 100 declining 2.9%. In the bond market, the yield on the benchmark ten-year note surged to 4.40%, continuing the pullback from earlier sessions.
Nasdaq Soars 12.2% on Tariff News; Dow, S&P Surge
- U.S. Stocks Surge: Nasdaq up 12.2%, S&P 500 jumps 9.5%, and Dow rises 7.9% following Trump’s 90-day tariff pause.
- Trump's Tariff Announcement: A 90-day pause on new tariffs for most countries, except China, to allow trade negotiations.
- Semiconductor Stocks Lead: Philadelphia Semiconductor Index rises by 18.7%, leading the rally in U.S. stocks.
- Other Sectors Surge: Airline stocks (15.3%) and oil service stocks (12.9%) also see significant gains.
- Global Market Reactions: Japan’s Nikkei drops 3.9%, China’s Shanghai Composite gains 1.3%, while European markets decline.
- Bond Market Impact: Yield on the benchmark ten-year note rises to 4.40%, continuing the pullback seen in prior sessions.
- China’s Retaliation: After Trump’s tariff announcement, China raises tariffs on U.S. goods by 50%.
- Tariff Pause Details: During the 90-day period, tariffs will be set to a universal 10%, excluding China.
