The S&P 500 soared 10.25% on Wednesday, closing at 5,484.6 in a historic rebound driven by President Donald Trump's surprise announcement of a 90-day pause on many “reciprocal” tariffs.
Market sentiment flipped sharply as megacap tech stocks like Nvidia (+18.7%), Tesla (+22.7%), and Apple (+15.3%) led the charge.
This rally came after a brutal four-day sell-off triggered by intensifying trade tensions.
Though Trump eased tariffs for most nations, he hiked China’s to 125%, signaling ongoing strain.
Treasury Secretary Scott Bessent confirmed that the 10% baseline tariff now applies to countries not retaliating.
Despite lingering uncertainty, Wednesday saw record trading volume, with over 30 billion shares changing hands.