US Stock Market : U.S. stock markets rebounded heavily. The 17-year-old record was broken due to the storm. The reason for this is President Donald Trump’s announcement about tariffs, in which he has temporarily stopped the reciprocal tariffs applied to most countries for 90 days.This news was eagerly awaited by investors. As a result, the leading index of the U.S. market rebounded by 12%.
Stormy Rise in US Stock Markets
The S&P 500 jumped 9.5% on Wednesday in the US stock market. The Nasdaq Composite Index also jumped 12%, rising 1,857.06 points to 17,124.97. However, the stock market was initially weakened by the news of an economic slowdown. But everything changed when a social media post delivered the long-expected update, which brought the global market back into limbo.
Huge Jump in These Stocks
The Dow Jones also saw strong gains, which climbed 7.9%. Tesla gained 41.76 points, gaining 18.82% to close at 263.62. Intel gained 3.08 points, up 16.96% at 21.20. NVIDIA gained 15.58 points, gaining 16.18% to close at 111.88.
Apple gained $ 17.51. It jumped 10.15% and closed at $ 189.93, while Amazon gained $ 16.77, which jumped 9.83% to close at $ 187.43.
Records Broken in the Market
The S&P 500’s biggest single day gain since the Second World War occurred on October 13, 2008, when it registered a strong 11.6% gain. This happened during the peak of the Great Recession, when fears of financial crises were spread, as the index was going through a fierce decline from its peak in late 2007 to its lowest level in March 2009 of around 57%. Another historic surge was recorded just a few weeks later, when the index rose 10.8% in one day.
Greening of Travel Stocks
US stock markets witnessed a broader rally yesterday, with airlines and other travel-related stocks seeing gains, due to increased consumer confidence in travel for business or leisure purposes.
Delta Air Lines jumped by a tremendous margin of 23.4%, while earlier it had withdrawn its financial guidance for the year due to travel bookings being affected due to trade tensions hindering consumer and business spending projections.
Reaction of Global Market
Asian markets are stormy bullish on the morning of April 10 today after a pulsating rally in Wall Street. The Japanese market led the way, with the Nikkei 225 up 8.19% and the Topix index up 7.44%. The Kospi index in South Korea is up 5.36%. While the small-cap Cossack has a rally of 5.32%.
Australia’s S & P/ASX 200 also gained 4.69%. Investors are keeping a close eye on Chinese stocks as the US has increased import duties from China to 84% following Beijing’s plan to impose tariffs on American goods to 125%. The Indian stock market is closed on April 10 on the occasion of Mahavir Jayanti.
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