US stocks plunge after record rally on Trump’s tariff pause
By Taylor Herzlich
US stocks plunged Thursday morning following a record surge after President Trump announced a 90-day pause on nearly all import tariffs.
The Dow Jones Industrial Average plummeted 836 points, or 2.1%, by about 10 a.m. ET after soaring 2,962.86 on Wednesday – its largest one-day points gain in history.
U.S. President Donald Trump holding a sign and delivering remarks on reciprocal tariffs in the Rose Garden at the White House.
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President Trump unveiled his so-called “reciprocal” tariffs during a press conference at the White House’s Rose Garden.
REUTERS
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The Dow Jones Industrial Average plummeted by 2.1% after soaring 2,962.86 on Wednesday.
A trader works on the floor of the New York Stock Exchange (NYSE) at the opening bell on April 10, 2025, in New York City.
The S&P 500 and the Nasdaq 100 fell 2.7% and 3.3%, respectively, Thursday morning after the historic Wall Street rally.
Major stock indexes notched several records on Wednesday, with the S&P 500 roaring back more than 9% for its third-largest single day gain since World War II, and the Nasdaq Composite recording its second-best day ever.
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A trader works as a television screen shows news about US President Donald Trump's trade and tariff policies, on the floor of the New York Stock Exchange (NYSE) at the opening bell on April 10, 2025
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The S&P 500 roared back more than 9% for its third-largest single day gain since World War II.
AFP via Getty Images
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The turnaround for the markets came after Trump announced a 90-day reprieve for most countries, dropping their tariff rates to 10%.
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