The Dow Jones Industrial Average, rocked since last Thursday by Trump’s tariff announcement, rose 2,962 points or 7.87 percent on Wednesday — a shot of relief at Trump’s pause heard around the country.
The Nasdaq closed with a gain of 12.1 percent and the S&P 500 index ended the day 9.5 percent higher
Though huge tariffs remain on China, one of the largest exporters to the United States, markets saw the pause on most of the tariffs on other countries as reason for hope after several cloudy days.
Trump acknowledged the markets played into his decision.
Asked why he decided to implement the pause, Trump replied, “I thought that people were jumping a little out line,” adding that people were getting “a little bit yippy, a little bit afraid.”
“The bond market is very tricky, I was watching it. But if you look at it now it’s beautiful,” Trump said. “I saw last night where people were getting a little queasy.”
Read more here from The Hill's Alex Gangitano and Sylvan Lane.
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