By Dean Seal
Airline stocks turned small gains into a major rally after President Trump placed a 90-day pause on most of the reciprocal tariffs he unleashed this week.
Shares of Delta Air Lines and United Airlines Holdings, the two biggest carriers by market capitalization, rose 18% each to $42.23 and $66.15, respectively. Shares of Southwest Airlines jumped 11% to $27.42 while American Airlines Group shares climbed 13% to $10.25. Shares of Alaska Air Group were up 14%, JetBlue Airways shares gained 13% and Frontier Group Holdings moved 17% higher.
As with most industries, the sector's shares had come under pressure in recent weeks after Trump started launching erratic, broad and sky-high tariffs on the U.S.'s major trading partners.
Facing pressure from business leaders to reel the levies back, the president took to his Truth Social platform on Wednesday afternoon to announce a 90-day pause on reciprocal tariffs for all trading partners except China.
Trump also said reciprocal tariffs will be lowered to 10% across the board, except for China, which now faces a 125% tariff.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
April 09, 2025 13:53 ET (17:53 GMT)
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