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Stocks surged Wednesday after President Donald Trump announced a pause in some of the reciprocal tariffs

Updated on: Apr 10, 2025, 24:05:59 IST

By Yash Nitish Bajaj

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Stocks surged Wednesday after President Donald Trump announced a pause in some of the reciprocal tariffs. The S&P 500 rose 7.8%, the Dow Jones Industrial Average was up by 2544 points, or 6.8% and the Nasdaq Composite jumped around 10%. Soon after Trump's Truth Social post, Apple was up 11%, Nvidia was up 13%, Amazon rose 7.5%, Alphabet was up 6.4% and Microsoft saw a 7.8% surge.

Nasdaq stocks surged after Trump's tariff pause announcement (AFP)

Walmart was headed for its best day since 2020 after its shares surged nearly 11% on Wednesday afternoon. Airline stocks too surged. Delta Air Lines, which had released its first-quarter earnings earlier that day, saw its stock soar by more than 22%, putting it on track for its strongest performance since at least March 2020. United Airlines also experienced a significant uptick, climbing over 19% and heading toward its best day since May 2020. Southwest Airlines gained 12%, while JetBlue Airways and Alaska Air each rose more than 12%. Additionally, travel site Expedia saw its stock increase by over 15%, reflecting the broader rally in travel-related shares.

Donald Trump 90-day tariff pause announcement

“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 platform. The 78-year-old further announced that he was raising tariff on China to 125%.

Treasury Secretary Scott Bessent later clarified that all countries except China would go back to the 10% baseline tariff rate. However, the pause does not apply to sector tariffs.

Billionaire investor Bill Ackman, who recently slammed Trump's tariff move, thanked the administration for a 90-day pause on more severe tariffs.

“Thank you on behalf of all Americans,” he tweeted, further saying ‘Treasury Secretary Scott Bessent] rocks!’

The 90-day pause will allow for the US to negotiate with individual countries, Bessent told reporters. President Trump will be personally involved in those discussions, he added.

"Each one of these is going to be separate, bespoke negotiation," Bessent said.

ABOUT THE AUTHOR
Yash Nitish Bajaj
Yash Bajaj is a Chief Content Producer with a strong foundation in US coverage, digital strategy, and audience-focused storytelling. As part of the US Desk at Hindustan Times, he covers a wide range of topics - from American politics to sports (NFL, NBA, derbies, MLB and more). Before joining Hindustan Times, Yash served as Deputy News Editor at Times Now, where he oversaw international coverage and led a team of six. In this role, he significantly expanded global traffic through strategic planning, SEO-driven content execution, and meticulous trend tracking across platforms. He is experienced in managing high-pressure breaking-news shifts, coordinating live coverage, and building newsroom systems that improve speed, accuracy, and reach. Prior to Times Now, Yash held a position at Opoyi, where he headed the Sports and US news team. He developed broad editorial strategies, guided reporters across multiple beats, and played a key role in recruiting and training new talent. His responsibilities also extended to social media management and experimenting with innovative content formats. A passionate NFL fan, Yash is a die-hard supporter of the Cincinnati Bengals and has followed Joe Burrow closely since his college days at LSU. Whether breaking down top players' latest performance, analyzing team performances, or tracking roster moves, he brings the same dedication and sharp storytelling to his sports coverage as he does to American politics and breaking news. When he’s not writing, Yash can often be found watching games or debating the latest NFL storylines with fellow fans. Yash holds a Bachelor of Mass Media (Journalism) from HR College, Mumbai University. His interests extend well beyond the newsroom: he is an enthusiastic explorer of AI tools, a movie buff with an ever-growing watchlist, and someone who enjoys unraveling conspiracy theories for fun.Read More

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