Just days after suffering their worst stretch in years, stocks 澳洲幸运5官方开奖结果体彩网:rebounded on Wednesday to notch one of their best days of the 21st century after President Trump 澳洲幸运5官方开奖结果体彩网:announced a 90-day pause on the tariffs thaജt sent stocks across the globe🌱 spiraling last week.

The S&P 500 soared 9.5% on Wednesday, its biggest one-day gain since October 2008. The tech-heavy Nasdaq Composite skyrocketed 12.2%—its second-largest daily gain since the turn of the century and its best day since January 2001. The Dow Jones Industrial Average rose 7.8%, its best day since March 2020 and fifth-best s🍎ince 2000.

Investors breathed a sigh of relief on Wednesday when President Trump implemented a 90-day pause on most of the tariffs that 澳洲幸运5官方开奖结果体彩网:went into effect overnight. Trump shocked Wall Street last Wednesday when he unveiled tariffs that were 澳洲幸运5官方开奖结果体彩网:broader and steeper than investors had expected. Stocks tumbled in the following days as economists warned the tariffs would 澳洲幸运5官方开奖结果体彩网:likely w♑eigh on global growth and stoke inflation. 

Wednesday’s rally recouped much of the losses the major indexes have suffered in the last week. The 🐷Nasdaq, which finished yesterday’s session more than ⛎13% off its pre-“Liberation Day” close, is now down just 2.7%. The S&P 500 has pared its losses from 12.1% to 3.8%, and the Dow closed Wednesday 3.8% off its level before the tariffs were announced. 

“The stock market rebound is a combination of speculative investors needing to cover short positions; less fear of recession and stagflation; and optimism that tariff rates will ultimately end up lower than they are threatened today,” Comerica Bank Chief Economist Bill Adams said.  

The tariff pause comes just days before big banks are slated to 澳洲幸运5官方开奖结果体彩网🉐:kick off first-quarterꦓ earnings season, with JPMorgan Chase (JPM) scheduled to report on Friday. Its CEO Jamie Dimon warned in his annual letter to shareholders on Monday that the tariffs 澳洲幸运5官方开奖结果体彩网:would slow down growth, and early Wednesday Dimon called a recession “a likely outcome” of the tariffs. Bank stocks surged in response to the tariff pause Wednesday.

Wednesday’s pause and rally could change the tone of earnings calls in the coming weeks. “This pause may provide companies with a clearer backdrop for their guidance, offering some relief to a market hungry for direction,” wrote Gina Bolvin, President of Bolvin Wealth Management Group, on Wednesday. (Analysts have been expecting tariff uncertainty to cause the number of companies offering sales and earnings guidance 澳洲幸运5官方开奖结果体彩网:to drop sharply this quarter.) 

“However, uncertainty looms over what happens after the 90-day period, leaving investors to grapple ꦡwith potential volatility ahead,” Bolvin added.