Stock market surges after tariff pause announcement
(NBC, KYMA/KECY) - Stocks surged Wednesday after President Donald Trump announced a pause in some of the reciprocal tariffs.
President Trump's announcement caused the market, which has been under extreme pressure for the last week, to explode higher.
The market closed with the S&P 500 skyrocketing more than 9.5%, marking its biggest one-day gain since 2008.
For the Broad Market Index, it was the third biggest gain in post-WWII history.
The Dow Jones Industrial Average advanced 2,962.86 points, or 7.87%, marking its biggest percentage advance since March 2020.
The Nasdaq Composite jumped 12.16%, notching its largest one-day jump since January 2001 and second-best day ever.
According to records going back 18 years, about 30 billion shares traded hands, making it the heaviest volume day on Wall Street in history.
