Stocks exploded higher Wednesday after President Donald Trump announced a 90-day pause on reciprocal tariffs (with the exception of China), easing investor fears. In the same post on Truth Social, Trump announced he was raising the tariff on China to 125%. Later, Treasury Secretary Scott Bessent stated that all other countries would go back to the 10% baseline tariff amid ongoing negotiations. 

The Dow skyrocketed 2,962 points, or 7.9%, for its largest single-day percentage gain since March 2020. The Nasdaq soared 12.2% for its best day since 2001, while the S&P 500 marked its biggest win since 2008. Tech giants Apple (AAPL), Nvidia (NVDA), and Tesla (TSLA) helped lead the charge.

OIL, GOLD PRICES REACT TO TRUMP'S TARIFF PAUSE

Oil soared Wednesday, marking its best session since October 2024 after tariff updates. May-dated West Texas Intermediate (WTI) crude rose $2.77, or 4.7%, to settle at $62.35 per barrel, after earlier falling as low as $55.12.

Gold surged Wednesday, on track for its best session since March 2023, as a weaker dollar and renewed safe-haven demand followed China’s latest round of U.S. tariff retaliation. June-dated gold was last seen 3.7% higher at $3,101.70 an ounce.

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