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TMI BlogDow surges 2,600 as US stocks soar in relief after Trump pauses some of his tariffsX X X X Extracts X X X X X X X X Extracts X X X X ..... Dow surges 2,600 as US stocks soar in relief after Trump pauses some of his tariffs X X X X Extracts X X X X X X X X Extracts X X X X ..... g and heading toward one of its best days in decades. It had been down earlier in the morning amid worries about whether Trump's trade war would drag the global economy into a recession. But then came the posting on social media from Trump that investors worldwide had been waiting and wishing for. “I have authorized a 90 day PAUSE,” Trump said, after recognising that more than 75 countries tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t he said have been negotiating on trade and had not retaliated against his latest increase in tariffs. Treasury Secretary Scott Bessent later told reporters that Trump was pausing his so-called reciprocal tariffs on most of the country's biggest trading partners, but maintaining his 10 per cent tariff on nearly all global imports. The Dow Jones Industrial Average was up 2,665 points, or 7.1 p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er cent, as of 2 pm Eastern time, and the Nasdaq composite was 10.3 per cent higher. Trump, though, also said that he was raising tariffs even higher against China, up to 125 per cent. The world's second-largest economy has been ratcheting up its own tariffs on US goods and announcing other countermeasures with each move Trump has made. “If the US insists on further escalating its economic and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... trade restrictions, China has the firm will and abundant means to take necessary countermeasures and fight to the end”, the Ministry of Commerce said earlier in the day. Huge swings have become routine for financial markets worldwide recently, not just day to day but hour to hour, as investors struggle to game out what Trump's trade war will do to the economy. On Tuesday, the S&P 500 careened ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... between a gain of 4 per cent and a loss of 3 per cent for a second straight day of shocking reversals. Wall Street also got a boost Wednesday from a relatively smooth auction of US Treasurys. Earlier jumps in Treasury yields had rattled the market, indicating increasing levels of stress. Analysts say several reasons could have been behind the move, including hedge funds and other investors ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ving to sell their Treasury bonds to raise cash in order to make up for losses in the stock market. Investors outside the United States may also be selling their US Treasurys because of the trade war. Such actions would push down prices for Treasurys, which in turn would push up their yields. Regardless of the reasons behind it, higher yields on Treasurys add pressure on the stock market and p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ush upward on rates for mortgages and other loans for US households and businesses. The moves were particularly notable because US Treasury bonds have historically been seen as some of the safest possible investments, and their yields have tended to fall — not rise — during scary times for the market. This week's sharp rise had brought the yield on the 10-year Treasury back to where it was in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... late February. After approaching 4.50 per cent in the morning, the yield on the 10-year Treasury pulled back to 4.39 per cent following Trump's pause and the Treasury's auction. That's still up from 4.26 per cent late Tuesday and from just 4.01 per cent at the end of last week. In stock markets abroad, indexes tumbled across most of Europe and much of Asia. London's FTSE 100 dropped 2.9 per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cent, Tokyo's Nikkei 225 sank 3.9 per cent and the CAC 40 fell 3.3 per cent in Paris.
Chinese stocks were an outlier, and indexes rose 0.7 per cent in Hong Kong and 1.3 per cent in Shanghai. (AP) NPK NPK X X X X Extracts X X X X X X X X Extracts X X X X
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