Stocks surged to one of their biggest gains since World War II after President Donald Trump backed off his tariffs on most nations for 90 days even as he further jacked up the tax rate on Chinese imports to 125%.
The S&P 500 soared 9.5% Wednesday. The index is still below where it was when Trump announced his sweeping set of tariffs last week. The Dow Jones Industrial Average flew nearly 3,000 points higher, and the Nasdaq composite jumped 12.2%.
On Wednesday:
The S&P 500 rose 474.13 points, or 9.5%, to 5,456.90.
The Dow Jones Industrial Average rose 2,962.86 points, or 7.9%, to 40,608.45.
The Nasdaq composite rose 1,857.06 points, or 12.2%, to 17,124.97.
The Russell 2000 index of smaller companies rose 152.45 points, or 8.7%, to 1,913.16.
For the week:
The S&P 500 is up 382.82 points, or 7.5%.
The Dow is up 2,293.59 points, or 6%.
The Nasdaq is up 1,537.19 points, or 9.9%.
The Russell 2000 is up 86.13 points, or 4.7%.
For the year:
The S&P 500 is down 424.73 points, or 7.2%.
The Dow is down 1,935.77 points, or 4.6%.
The Nasdaq is down 2,185.82 points, or 11.3%.
The Russell 2000 is down 317 points, or 14.2%.
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