President Donald Trump sent U.S. stocks soaring Wednesday with the Dow Jones Industrial Average up close to 3,000 points after he retreated and shifted gears from his hardline stance on high tariffs.
Trump hit a 90-day pause button and lowered tariffs rates to 10% on all countries except China as stock prices dropped and bond yields spiked and recession fears increased over his high ƵLiberation DayƵ tariffs.
The DowƵs 2,962.86 gain is a historic rise for the U.S. stock with a 7.87% gain, according to CNBC.
The Nasdaq was up more than 12% adding more than 1,800 points and the S&P 500 jumped more than 9.5%, according to Google Finance.
Still, U.S. stock markets are down since Trump's April 2 tariffs rollout. The turbulent bond markets were especially concerning before Trump's tariffs pause.
Big stocks and well-known brands including Apple (Nasdaq: AAPL), Nike (NYSE: NKE), Amazon (Nasdaq: AMZN), Microsoft (Nasdaq: MSFT) and NVDIA (Nasdaq: NVDA) were all up double digits after Trump's tariffs pullback.
Two of Wednesday's stock winners are also near and dear to the Trump administration.
President Donald Trump speaks at the National Republican Congressional Committee (NRCC) dinner at the National Building Museum in Washington, Tuesday, April 8, 2025. (Pool via AP)
Trump Media & Technology Group (Nasdaq: DJT), of which Trump is the largest shareholder, gained close to 22% in WednesdayƵs wild day of trading.
Tesla Inc. (Nasdaq: TSLA) Ƶ which headed Trump ally and Department of Government Efficiency chief Elon Musk Ƶ was up close to 23%.
Tesla and Trump Media are still down 32.6% and 40.6%, respectively so far this year, according to Google Finance.
Trump said in a social media post that he was putting a 90-day pause with a 10% rate on his ƵLiberation DayƵ tariffs while the U.S. negotiates trade deals with individual countries.
That eases tariffs on dozens of countries who had rates as high as 49%.
The exception is China.
Trump said in the same post he was taking U.S. import taxes on Chinese goods to 125%. China has vowed 84% tariffs on U.S. goods and could target Hollywood films and U.S. tech firms with trade restrictions.
Still, Trump said at the White House Wednesday that he is optimistic new trade terms can be reached with China.
But Trump backing off the higher tariffs for other countries sent previously reeling stock markets soaring.
The Dow was down 4,500 points coming into today after TrumpƵs April 2 rollout.
With the big gains today, the Dow is still down more than 1,600 points since Liberation Day.
The Nasdaq is still off 3.7% from April 2.
Trump said Wednesday that investors were getting ƵyippyƵ and anxious about the financial situation which saw both stocks and bond yields falling and odds of a recession increasing.
A dual collapse of bond yields and stock prices prompted financial alarms on Wall Street and Washington.
Trump still has 25% tariffs on auto, auto parts, steel and aluminum imports.
Trump posted earlier Wednesday for investors to Ƶbe coolƵ and posted a message saying to buy stocks.
ƵThis is a great time to buy!!!. DJT,Ƶ Trump said.
DJT are the U.S. presidentƵs initials. They are also the stock symbol for Trump Media & Technology Group (Nasdaq: DJT).
Trump owns 115 million shares of Trump Media, which owns the Truth Social social media platform. Those shares are held by the Donald J. Trump Revocable Trust.
TrumpƵs DJT stake is with more than $2.3 billion and earlier this month the Florida-based company notified the U.S. Securities and Exchange Commission that the presidentƵs financial trust could sell his entire Trump media stake.
TrumpƵs Ƶgreat time to buy. DJTƵ post came at 9:37 a.m. Wednesday.
He announced his 90-day pause to his higher Liberation Day tariffs at 1:18 p.m. Eastern Wednesday.
Here are TrumpƵs posts.
1:18 p.m. Ƶ
Based on the lack of respect that China has shown to the WorldƵs Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable. Conversely, and based on the fact that more than 75 Countries have called Representatives of the United States, including the Departments of Commerce, Treasury, and the USTR, to negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non Monetary Tariffs, and that these Countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately. Thank you for your attention to this matter!
9:37 A.M Ƶ
THIS IS A GREAT TIME TO BUY!!! DJT
9:33 A.M. Ƶ
BE COOL! Everything is going to work out well. The USA will be bigger and better than ever before!