Stock market surges after US reciprocal tariff delay announcement

Traders at the New York Stock Exchange, USA. (Photo: THX/TTXVN)

Immediately after President Donald Trump announced the suspension of reciprocal tariffs on many countries that "do not retaliate" against the US, Wall Street's main indexes rose sharply on April 9, reflecting a somewhat relieved feeling from investors who had been anxious in recent days about the prospect of a severely affected global economy .

According to the latest announcement of the same day by President Trump, the US will suspend reciprocal tariffs for 90 days with many countries and take effect immediately, except for the tariff rate with China increased to 125% after China imposed an 84% tariff on all US goods from April 10 in retaliation for the 104% tariff that the US imposed on Chinese goods taking effect.

Since President Trump announced the reciprocal tariffs on April 2, stock markets have plunged the most in five years.

Although the announcement of the tax deferral still leaves uncertainty about the final policy, it helped the market recover somewhat when in the early afternoon of April 9 (US time), the S&P 500 index quickly increased by more than 8%, the Dow Jones index increased by 7.27% and the Nasdaq Composite index increased by 10.77%.

All 11 major S&P 500 indexes rose, with the tech sector up 11.85%. Big tech stocks had the biggest rebound, with Nvidia up 15% while Apple rose more than 9%.

The "Magnificent Seven" technology stocks (the financial industry's nickname for the top 7 US technology companies) have increased their market value by more than 1,000 billion USD after the announcement of a temporary postponement of the reciprocal tax./.

Source: https://baotuyenquang.com.vn/thi-truong-chung-khoan-tang-manh-sau-thong-bao-tam-hoan-thue-doi-ung-cua-my-209788.html