T&G Market Recap: S&P 500 Nears Record, Dow, Nasdaq Jump as Trump Announces Reciprocal Tariffs, Delays Implementation š
Markets respond positively to tariff delay and digested inflation concerns.
US stocks surged on Thursday, buoyed by President Donald Trumpās announcement that he plans to introduce reciprocal tariffs but delayed their implementation. The Dow Jones Industrial Average (^DJI) rose more than 0.7%, adding over 350 points, while the S&P 500 (^GSPC) climbed over 1%, closing at 6,115.06, just shy of its record close of 6,118.71. The Nasdaq Composite (^IXIC) outperformed, rising more than 1.5%, fueled by rallies in Nvidia (NVDA) and Tesla (TSLA).
Trump's Tariff Plan Delayed, but Markets Respond Positively š
In a press conference on Thursday, Trump introduced his reciprocal tariffs plan, which will impose tariffs on US trading partners matching the levies they place on US goods. However, the announcement didnāt include an immediate implementation date. Instead, the tariffs are set to go into effect as early as April, allowing time for negotiations with affected countries.
Trumpās statement: āI will charge a reciprocal tariff, meaning whatever countries charge the United States of America, we will charge them.ā
Markets took this new tariff announcement in stride, interpreting the delay as an opportunity for diplomatic negotiations before any tariffs are enforced.
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