Euphoria on Wall Street: Trump's Tariff Pause Sparks Market Surge

US stocks soared after President Trump announced a temporary halt on most global tariffs. The S&P 500 experienced one of its best days, driven by investor optimism. Despite concerns about escalating trade tensions with China, Wall Street saw significant gains, uplifting markets despite recent volatility.

On a euphoric Wall Street Wednesday, US stocks soared following President Donald Trump's announcement to temporarily pause most of his global tariffs. The decision brought relief to investors who were concerned about the possibility of a global recession fueled by the trade war.

The S&P 500 surged eight per cent, marking one of its best trading days in recent history. Earlier, stocks had trended downwards amidst growing fears over the trade war's impact on the global economy. However, Trump's social media revelation altered the course, spurring a strong market rally.

Despite Trump's move easing tensions with many trade partners, the rhetoric against China escalated with additional tariffs. Investors globally have become accustomed to extreme market fluctuations, as they navigate the uncertain economic repercussions of the ongoing trade war.

(With inputs from agencies.)