The S&P 500 jumped over 7.6%, the Dow Jones Industrial Average climbed 6.5%, and the Nasdaq Composite soared by 9.5%, ending a four-day-long and gruesome losing streak. Bitcoin ( BTC) also reacted, rising to $82,466 following the announcement before retracing a hair.
“I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” Trump posted on Truth Social, pausing some of the tariffs.
Markets had been under heavy pressure for five consecutive days, driven by investor anxiety over the sweeping reciprocal tariffs Trump introduced on April 2. Those tariffs targeted countries including China, the European Union, and Japan.
Bitcoin, which dipped to $74,500 earlier this week, has shown sensitivity to global policy shifts, with traders viewing it as a gauge of geopolitical sentiment. Despite the decline, it has maintained an impressive degree of stability throughout the turmoil, falling far less than many had anticipated.
While markets welcomed the pause, participants understand that volatility could persist if trade talks stall. Trump’s 90-day suspension offers a temporary reprieve, but the direction of global trade policy remains uncertain beyond that window.