Five days after sparking a global market downturn with his trade war, US President Donald Trump announced a sudden reversal on tariffs, sending stocks soaring. The S&P 500 Index rose nearly 10% in one day, its largest gain since 2001, while the Nasdaq Composite jumped by record margins. Short-term Treasuries also plummeted as investors shifted their focus to interest-rate cuts and strengthened dollar value against yen and Swiss francs.
Source: https://www.bloomberg.com/news/articles/2025-04-09/markets-turn-from-fear-to-euphoria-as-trump-backpedals-on-tariffs