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U.S. stock markets rebounded sharply following President Donald Trump's announcement to delay retaliatory tariffs, with the Nasdaq recording its largest single-day gain in 24 years.
At the close of trading on April 9, major indexes including the S&P 500, Dow Jones Industrial Average (DJIA), and Nasdaq Composite all posted strong gains. The Nasdaq jumped over 12%, marking the second-largest single-day increase in its history. The last time it posted a higher gain was in January 2001, when it surged over 14%.
The Nasdaq Composite rose more than 12% on April 9 — its biggest gain since early 2001. Photo: CNBC
The S&P 500 climbed 9.52%, which, according to FactSet, is the third-largest gain since March 2020. The DJIA rose 7.87%, its strongest performance since June 2020.
The rally came after President Trump announced a 90-day delay on retaliatory tariffs for all countries except China, easing market tensions that had been weighing heavily over the past week.
Apple shares surged more than 15%, the biggest one-day gain since January 1998. The tech giant had just suffered its worst four-day stretch since 2000, losing its position as the world’s most valuable company to Microsoft after shedding $774 billion in market capitalization. However, Apple reclaimed the top spot after April 9's session.
Other tech stocks also saw double-digit gains:
Traders on the floor of the New York Stock Exchange, April 9. Photo: Reuters
Semiconductor stocks, which had previously slumped due to concerns over weakened demand for electronics and slowing economic growth, also rebounded.
According to Gina Bolvin, President of Bolvin Wealth Management Group, this was a pivotal moment investors had been waiting for. “The market's immediate reaction was positive, as investors saw this as a step toward greater clarity,” she said.
Adam Crisafulli, founder of Vital Knowledge, echoed that sentiment, saying the tariff delay helped lift a massive weight off the market, triggering a strong rebound.
However, Dave Sekera, Chief U.S. Market Strategist at Morningstar, cautioned that it’s too early to assume the risks have passed.
"Trade negotiations haven't even started yet. When they do, we're likely to see a mix of both positive and negative developments, as both sides will try to maximize their own interests," he said.
In the four sessions prior to April 9, the S&P 500 had dropped over 12% — its steepest decline since the pandemic. The Nasdaq fell more than 13%, and the DJIA lost over 4,500 points.
At the close of trading on April 9, major indexes including the S&P 500, Dow Jones Industrial Average (DJIA), and Nasdaq Composite all posted strong gains. The Nasdaq jumped over 12%, marking the second-largest single-day increase in its history. The last time it posted a higher gain was in January 2001, when it surged over 14%.
The Nasdaq Composite rose more than 12% on April 9 — its biggest gain since early 2001. Photo: CNBC
The S&P 500 climbed 9.52%, which, according to FactSet, is the third-largest gain since March 2020. The DJIA rose 7.87%, its strongest performance since June 2020.
The rally came after President Trump announced a 90-day delay on retaliatory tariffs for all countries except China, easing market tensions that had been weighing heavily over the past week.
Apple shares surged more than 15%, the biggest one-day gain since January 1998. The tech giant had just suffered its worst four-day stretch since 2000, losing its position as the world’s most valuable company to Microsoft after shedding $774 billion in market capitalization. However, Apple reclaimed the top spot after April 9's session.
Other tech stocks also saw double-digit gains:
- Nvidia jumped 22%
- Meta rose nearly 15%
- Amazon climbed 12%
- Microsoft and Alphabet (Google's parent company) both gained around 10%
Traders on the floor of the New York Stock Exchange, April 9. Photo: Reuters
Semiconductor stocks, which had previously slumped due to concerns over weakened demand for electronics and slowing economic growth, also rebounded.
- AMD soared 24%
- Intel gained 19%
- Broadcom, Qorvo, and Skyworks Solutions — Apple suppliers — all rose by over 18%
According to Gina Bolvin, President of Bolvin Wealth Management Group, this was a pivotal moment investors had been waiting for. “The market's immediate reaction was positive, as investors saw this as a step toward greater clarity,” she said.
Adam Crisafulli, founder of Vital Knowledge, echoed that sentiment, saying the tariff delay helped lift a massive weight off the market, triggering a strong rebound.
However, Dave Sekera, Chief U.S. Market Strategist at Morningstar, cautioned that it’s too early to assume the risks have passed.
"Trade negotiations haven't even started yet. When they do, we're likely to see a mix of both positive and negative developments, as both sides will try to maximize their own interests," he said.
In the four sessions prior to April 9, the S&P 500 had dropped over 12% — its steepest decline since the pandemic. The Nasdaq fell more than 13%, and the DJIA lost over 4,500 points.
Src. CNBC
