PULSE POINTS:
❓What Happened: President Trump has overseen a historic Wall Street surge, with the Dow jumping 2,962.86 points and the S&P up nearly 10 percent as he continues to steer his America First tariff strategy.
👥 Who’s Involved: Donald J. Trump, U.S. markets, China, 75 negotiating countries, Wall Street traders.
📍 Where & When: U.S. markets, late Wednesday, April 9, 2025.
💬 Key Quote: “Don’t be Weak! Don’t be Stupid! Don’t be a PANICAN (A new party based on Weak and Stupid people!). Be Strong, Courageous, and Patient, and GREATNESS will be the result!” — President Trump, April 7.
⚠️ Impact: Record 30 billion shares traded, markets soar after tariff relief, but China’s U.S. debt dump and 4.5 percent Treasury yield spike signal a brewing economic showdown.
U.S. markets surged late Wednesday following an announcement by President Donald J. Trump that he would ease tariff measures against most of America’s trading partners as the White House begins bilateral negotiations with around 75 countries—except for China, which saw tariff rates on its goods increase to 125 percent.
The Dow Jones closed at 40,608.45, a gain of 2,962.86 points on the day—the single largest daily point gain in history. Meanwhile, the S&P 500, which saw significant volatility over the past week, saw nearly a 10 percent gain, closing at 5,456.90.
An estimated 30 billion shares were traded on Wednesday, marking the heaviest—by volume—trading day in Wall Street’s history. The surge in trading almost entirely came after President Trump posted on Truth Social that he would pause his reciprocal tariffs—although not sector-specific tariffs on products such as steel—on all foreign nations, except China, with only the 10 percent global tariff remaining in effect while his White House begins negotiations with a number of countries on a new, more equitable trade system accounting for the interests of the United States.
The prospect of a long-term trade war between the United States and most nations worldwide rattled markets following President Trump’s “Liberation Day” tariff announcement on April 2. However, it appears the most concerning development for the Trump White House occurred Tuesday evening as the 10 Year Treasury Bond yield rate began to increase to over 4.5 percent, signifying that either foreign governments or institutional investors were moving to dump U.S. debt. By early Wednesday morning, it became apparent that China was selling off the U.S. Treasuries as it was forced to defend its currency from the tariff effects by purposefully devaluing it.
On April 7, President Trump urged people fretting over the short-term reaction to tariffs to stay the course, writing, “Don’t be Weak! Don’t be Stupid! Don’t be a PANICAN (A new party based on Weak and Stupid people!). Be Strong, Courageous, and Patient, and GREATNESS will be the result!”
Jack Montgomery contributed to this report.