Stock market today: Dow explodes 3,000 points higher, S&P 500 has best day since 2008 as Trump pauses most reciprocal ta

[iemanja]

Source: Yahoo Finance

US stocks rocketed higher on Wednesday as President Trump announced a 90-day pause on tariffs for most countries, yet at the same time upped increasingly ballooning levies on China.

The benchmark S&P 500 (^GSPC) roared up over 9.5%, posting its best day since 2008. The tech-heavy Nasdaq Composite (^IXIC) rallied a whopping 12% for its second-best day on record and its biggest gain since 2001. The Dow Jones Industrial Average (^DJI) was up over 7.8%, or roughly 3,000 points.

"I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately," Trump posted on Truth Social just before the market lifted off. Trump also said in the post that the US would be raising its tariffs on China to 125%. . . .

Meanwhile, the benchmark 10-year Treasury yield (^TNX) continued a recent surge, moving up near 4.4% after paring some gains.

Read more: https://finance.yahoo.com/news/live/stock-market-today-dow-explodes-3000-points-higher-sp-500-has-best-day-since-2008-as-trump-pauses-most-reciprocal-tariffs-133616395.html

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Some great news for those with retirement investments. Trump's erratic behavior on tariffs, however, is another sign of his instability.

[wolfie001]

1. This is embarrassing and the complete opposite of what he's been espousing

Always lying, always conning. Repulsive pig.

[Torchlight]

2. Only 6000 points below its November benchmark.

At this rate, he'll have the economy back to where he found it by the time his administration is over.

[chowder66]

16. Thank you for the exasperated laugh!

[Bernardo de La Paz]

19. He will be lucky if it ever comes back near those levels while he is in office (early exit very possible). . nt

[Meowmee]

31. Most are not pointing out that important fact

And what happens in 90 days when the tariffs start again?

[progree]

3. S&P 500 closed Wednesday 4/09 at 5457, up 9.5% for the day, down 5.6% since election day, down 11.2% from ATH

ATH is all-time high.

The S&P 500 closed Wednesday April 9 at 5457, up 9.5% for the day,

and down 5.6% from the 5783 election day closing level,

and down 9.0% from the inauguration-eve level,

and down 7.2% year-to-date,

and down 11.2% from its all-time closing high of 6144 on Feb 19. (we were 18.9% down at Tuesday's close, nearing a bear market which is 20% down. But 11.2% down is quite aways from that threshold)

Just so people understand that the "tRump trade" is still plenty underwater.

More on this at https://www.democraticunderground.com/111699775
which is a post I update daily in the Economy Group
It also has the Dow's closing levels each day and the day before and the change
plus a graph of the Dow - but the graph takes about 6 hours after the close to update (so wait til 10pm ET)
or for a "right now" look, go to https://finance.yahoo.com/quote/%5EDJI/
and perhaps click on "1M" above the graph for the craziness over the last month.

[Bengus81]

4. Oh my...so NOW all those Countries get to "take advantage of us" for

another 90 days Trump?? Hell...I thought this was a crisis moment and they have to PAY and start PAYING today. Now...because of Billionaires BITCHING it's OK to start them three months later.

[msongs]

5. one might suspect there is criminal market manipulation going on

[PSPS]

8. Gee, ya think?

The republicans and, of course, the trump spawn, all knew in advance this was coming. They all bought positions yesterday, which is where yesterday's modest rise in the averages came from. Then, today, ka-ching! They've all made millions of dollars! Insider trading plus pump-and-dump! Worthy of a scene in "Trading Places!"

And, to keep the scam going, republicans are blocking any attempt to take back their constitutionally-assigned tariff power.

[Shermann]

14. Very easy to get away with

You could throw darts at a dartboard to pick any stocks as long as you bought and sold at the right times. Very hard to prove!

[mdbl]

18. Is there an SEC anymore to investigate?

Or has he made some crook he pardoned head of that agency?

[LudwigPastorius]

21. Funny you should mention that.

The Senate confirmed Trump's pick Paul S. Atkins as head of the SEC today.

Among other things, he was in office as an SEC commissioner leading up to the 2008 financial collapse.

He is expected to loosen regulations and slow-walk investigations. He also has about $6 million invested in cryptocurrency service companies.

So, yeah. Massive conflict of interest there.

[hadEnuf]

6. Unsteady stock prices like this are not a good sign.

n/t

[OverBurn]

7. My stocks recovered a ton today, not completely. They need to "disarm" this fucking idiot, before he opens his

mouth again. The mad tariff king must go. I can't be taking money in and out, I don't really know what to do. I pretty much got to let it ride and hope this passes before he bankrupts the country.

[iemanja]

11. same here

I don't want to sell at a loss because that will jeopardize my retirement.

[chowder66]

17. It's past time for the Hannibal Lecter treatment.

[jmowreader]

29. The Wild Bill treatment would be better

[Bengus81]

9. Well hell...what would Markets do if it was announced that $4.5 TRILLION $$

in tax cuts for the rich has been taken off the budget??

[Owens]

10. MARKET MANIPULATION

The oligarchs, Republicans and Trump are manipulating the markets, too bad we don't have SEC anymore!

[OAITW r.2.0]

12. Republicans, the Party of Organized Crime.

They are responsible for letting Trump skate on 2 deserved impeachments, then letting him run again in 2024. If Americans care about their future...and the future of their kids and grandkids, they really need to voter these fuckers out of office,

[IthinkThereforeIAM]

26. I have called for the RNC/GOP to be RICO'd for 20 years now...

... remember when Bill Frist was Senate Majority leader 2003-2007? He had his stock broker set up his spread on Frist's dining room table, so Bill could call home with plausible deniability, to tip his broker to the latest insider info from Congress...

[IronLionZion]

13. More likely market manipulation than any tariff policy

since Trump insiders know when he's going to announce outrageous nonsense and how the market will react.

[Old Testament Libera]

25. Trump family is all doing insider trading on this / nt

[tonekat]

15. Waiting for Himself to say he made the stock market go up N/T

[IthinkThereforeIAM]

27. Hahaha... I seen that coming...

... the RNC/GOP/Trump making it fall so they then point to "see? we made it bounce back faster than you ever seen"!

[wolfie001]

20. Also, should note that 2008, the year quoted, was a particularly bad year

Headlines are doing the ole "donnie dump is really stable and sane" shuffle dance.

[cstanleytech]

22. Trump's trying actually just taxing us by calling it a tariff so he can get the tax breaks for the wealthy.

[Polybius]

23. Nice, good news for a change!

Hopefully, the trend continues tomorrow. I need to recover from the recent losses

[Old Testament Libera]

24. S&P 500 has best day since 2008...

...if you totally ignore what happened on the three previous days.

This is pretty lame reporting.

The 10-year Treasury news is not good, it means our national debt is more difficult to service. Chinese and Europeans are bailing out on T-bills. Not good news. They will use this as an excuse to whack Social Security.

[SharonClark]

28. It's not reporting, it's cheerleading.

Yeah, the stock market had the greatest day since 2008 just a day after it had the worst day in decades. This uncertainty is no cause for Yahoo finance to be so giddy.

[Orrex]

30. Great. Now his KKKultists will be crowing about this forever.

[4catsmom]

32. he'll say it's because of tariffs

and his clueless, non-stock owning cult will cheer

[iemanja]

33. It was because of his tariff announcement

But only had a temporary effect since the market is significantly down today.