Nasdaq is up 12.16% as Donald Trump pauses tariffs for 90 days. The S&P 500 sees its biggest gain since October 2008.
U.S. stocks had one of their strongest days on record, driven by a surge of optimism on Wall Street after President Donald Trump announced a temporary pause on most of his planned tariffs—news that investors had eagerly anticipated.
The S&P 500 soared by 9.5% on Wednesday, a gain that would typically reflect a solid year for the market. The Nasdaq Composite rose by 12.16%, gaining 1,857.06 points to reach 17,124.97. Meanwhile, Wall Street's other major indexes also saw significant gains, with the Dow Jones climbing 7.9%.
Tesla's stock surged by 41.76 points, an increase of 18.82%, closing at 263.62. Intel advanced by 3.08 points, up 16.96%, finishing at 21.20. NVIDIA jumped 15.58 points, gaining 16.18% to settle at 111.88. Apple added 17.51 points, a 10.15% increase, closing the session at 189.93, while Amazon rose by 16.77 points, climbing 9.83% to finish at 187.43.
Earlier in the day, markets were declining due to concerns that Trump's trade war might push the global economy toward recession. However, everything changed when a social media post delivered the long-anticipated update, sparking a powerful rally across global markets.
