Stock market today: Dow explodes 3,000 points higher, S&P 500 has best day since 2008 as Trump pauses most reciprocal ta
Source: Yahoo Finance
US stocks rocketed higher on Wednesday as President Trump announced a 90-day pause on tariffs for most countries, yet at the same time upped increasingly ballooning levies on China.
The benchmark S&P 500 (^GSPC) roared up over 9.5%, posting its best day since 2008. The tech-heavy Nasdaq Composite (^IXIC) rallied a whopping 12% for its second-best day on record and its biggest gain since 2001. The Dow Jones Industrial Average (^DJI) was up over 7.8%, or roughly 3,000 points.
"I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately," Trump posted on Truth Social just before the market lifted off. Trump also said in the post that the US would be raising its tariffs on China to 125%. . . .
Meanwhile, the benchmark 10-year Treasury yield (^TNX) continued a recent surge, moving up near 4.4% after paring some gains.
Read more: https://finance.yahoo.com/news/live/stock-market-today-dow-explodes-3000-points-higher-sp-500-has-best-day-since-2008-as-trump-pauses-most-reciprocal-tariffs-133616395.html
Some great news for those with retirement investments. Trump's erratic behavior on tariffs, however, is another sign of his instability.

wolfie001
(4,691 posts)Always lying, always conning. Repulsive pig.
Torchlight
(4,548 posts)At this rate, he'll have the economy back to where he found it by the time his administration is over.
chowder66
(10,427 posts)Bernardo de La Paz
(54,819 posts)Meowmee
(8,702 posts)And what happens in 90 days when the tariffs start again?
progree
(11,834 posts)ATH is all-time high.
The S&P 500 closed Wednesday April 9 at 5457, up 9.5% for the day,
and down 5.6% from the 5783 election day closing level,
and down 9.0% from the inauguration-eve level,
and down 7.2% year-to-date,
and down 11.2% from its all-time closing high of 6144 on Feb 19. (we were 18.9% down at Tuesday's close, nearing a bear market which is 20% down. But 11.2% down is quite aways from that threshold)
Just so people understand that the "tRump trade" is still plenty underwater.
More on this at https://www.democraticunderground.com/111699775
which is a post I update daily in the Economy Group
It also has the Dow's closing levels each day and the day before and the change
plus a graph of the Dow - but the graph takes about 6 hours after the close to update (so wait til 10pm ET)
or for a "right now" look, go to https://finance.yahoo.com/quote/%5EDJI/
and perhaps click on "1M" above the graph for the craziness over the last month.
Bengus81
(8,709 posts)another 90 days Trump?? Hell...I thought this was a crisis moment and they have to PAY and start PAYING today. Now...because of Billionaires BITCHING it's OK to start them three months later.
msongs
(71,120 posts)The republicans and, of course, the trump spawn, all knew in advance this was coming. They all bought positions yesterday, which is where yesterday's modest rise in the averages came from. Then, today, ka-ching! They've all made millions of dollars! Insider trading plus pump-and-dump! Worthy of a scene in "Trading Places!"
And, to keep the scam going, republicans are blocking any attempt to take back their constitutionally-assigned tariff power.
Shermann
(8,914 posts)You could throw darts at a dartboard to pick any stocks as long as you bought and sold at the right times. Very hard to prove!
mdbl
(6,269 posts)Or has he made some crook he pardoned head of that agency?
LudwigPastorius
(12,254 posts)The Senate confirmed Trump's pick Paul S. Atkins as head of the SEC today.
Among other things, he was in office as an SEC commissioner leading up to the 2008 financial collapse.
He is expected to loosen regulations and slow-walk investigations. He also has about $6 million invested in cryptocurrency service companies.
So, yeah. Massive conflict of interest there.
hadEnuf
(3,120 posts)n/t
OverBurn
(1,190 posts)mouth again. The mad tariff king must go. I can't be taking money in and out, I don't really know what to do. I pretty much got to let it ride and hope this passes before he bankrupts the country.
I don't want to sell at a loss because that will jeopardize my retirement.
chowder66
(10,427 posts)jmowreader
(52,160 posts)Bengus81
(8,709 posts)in tax cuts for the rich has been taken off the budget??
Owens
(502 posts)The oligarchs, Republicans and Trump are manipulating the markets, too bad we don't have SEC anymore!
OAITW r.2.0
(30,041 posts)They are responsible for letting Trump skate on 2 deserved impeachments, then letting him run again in 2024. If Americans care about their future...and the future of their kids and grandkids, they really need to voter these fuckers out of office,
IthinkThereforeIAM
(3,174 posts)... remember when Bill Frist was Senate Majority leader 2003-2007? He had his stock broker set up his spread on Frist's dining room table, so Bill could call home with plausible deniability, to tip his broker to the latest insider info from Congress...
IronLionZion
(48,556 posts)since Trump insiders know when he's going to announce outrageous nonsense and how the market will react.
Old Testament Libera
(75 posts)tonekat
(2,204 posts)IthinkThereforeIAM
(3,174 posts)... the RNC/GOP/Trump making it fall so they then point to "see? we made it bounce back faster than you ever seen"!
wolfie001
(4,691 posts)Headlines are doing the ole "donnie dump is really stable and sane" shuffle dance.
cstanleytech
(27,547 posts)Polybius
(19,802 posts)Hopefully, the trend continues tomorrow. I need to recover from the recent losses
Old Testament Libera
(75 posts)...if you totally ignore what happened on the three previous days.
This is pretty lame reporting.
The 10-year Treasury news is not good, it means our national debt is more difficult to service. Chinese and Europeans are bailing out on T-bills. Not good news. They will use this as an excuse to whack Social Security.
SharonClark
(10,460 posts)Yeah, the stock market had the greatest day since 2008 just a day after it had the worst day in decades. This uncertainty is no cause for Yahoo finance to be so giddy.
Orrex
(65,046 posts)4catsmom
(635 posts)and his clueless, non-stock owning cult will cheer
iemanja
(55,852 posts)But only had a temporary effect since the market is significantly down today.