Asia And Europe Markets Rally After Trump's Tariff U-Turn, Gold Nears Record High - Global Markets Today While US Slept
Benzinga (Thu, 10-Apr 6:29 AM)
On Wednesday, April 9, U.S. markets closed higher in a powerful rebound. The S&P 500 soared 9.5%—its largest single-day gain since 2008—after President Trump announced a 90-day pause on tariffs for many countries with a 10% reciprocal Tariff on all except China, offering relief to anxious investors.
The rally was further fueled by strong demand in a U.S. Treasury auction, upbeat earnings from Delta Air Lines, and broad-based buying interest. Yet uncertainty remains over future policy shifts, inflation risks, and the upcoming earnings season.
On the economic front, mortgage applications surged 20% in the first week of April, reflecting renewed consumer activity.
All 11 sectors in the S&P 500 finished in positive territory, with consumer discretionary, information technology, and communication services posting the strongest gains.
The Dow Jones Industrial Average jumped 7.87% to 40,608.45, the S&P 500 rose 9.52% to 5,456.90, and the Nasdaq Composite surged 12.16% to close at 17,124.97.
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