U.S. President Trump suddenly dropped a bombshell at midnight, announcing a 90-day suspension of tariffs on most trading partners, with tariffs to be reduced to 10% during this period. Encouraged by this, Wall Street saw its strongest single-day rally since 2008, with Asian-Pacific markets also surging at the opening, and the cryptocurrency market equally active, reigniting market optimism.
Based on the following facts: Over 75 countries have contacted U.S. representatives (including the Department of Commerce, Treasury, and the U.S. Trade Representative's Office) to negotiate solutions regarding current discussions on trade, trade barriers, tariffs, currency manipulation, and non-monetary tariffs.
And, these countries have not retaliated against the United States in any way, shape, or form under my strong recommendation - therefore, I have authorized a 90-day【suspension】, during which I will significantly reduce reciprocal tariffs to 10%, effective immediately.
Who Changed Trump's Mind? Still Tough on China
However, the specific list of countries that will receive this tariff relief is not yet clear.
According to foreign media analysis, Trump's decision-making process was quite rushed, even catching his own staff off guard. The opinions of several high-level trade officials and financial bigwigs, as well as the volatility in the U.S. bond market, seem to have been the catalyst for Trump's final critical decision.
Notably, Trump stated that due to China's lack of respect for the world market, the U.S. will immediately impose a 125% tariff on imports from China. (Previously, U.S. tariffs on China had just been raised to 104%, and Beijing had strongly retaliated by imposing 84% tariffs on U.S. goods)
Policy Shift Ignites Wall Street
Driven by this positive news, the four major U.S. stock indices closed with significant gains on the 9th:
- Dow Jones Industrial Average surged 2,962.86 points (+7.87%) to 40,608.45 points
- S&P 500 Index rose 474.13 points (+9.52%) to 5,456.90 points, the largest increase since '08
- Nasdaq Index soared 1,857.06 points (+12.16%) to 17,124.97 points
- Philadelphia Semiconductor Index jumped 667.51 points (+18.73%) to 4,230.45 points, creating a single-day historical high.
The performance of the seven U.S. tech giants was particularly outstanding:
- Apple (AAPL): $198.85, up 15.33%
- Nvidia (NVDA): $114.33, up 18.72%
- Microsoft (MSFT): $585.77, up 10.13%
- Alphabet (GOOGL): $158.71, up 9.68%
- Amazon (AMZN): $191.1, up 11.98%
- Meta (META): $585.77, up 14.76%
- Tesla (TSLA): $272.2, up a staggering 22.69%
Asian stock markets also performed brilliantly this morning, with the Taiwan Stock Exchange opening with a jump of 1,590 points, creating a historical high. The upward trend expanded, with the index rising above 19,000 before press time, TSMC opening at 863 points and hitting the daily limit, while other major electronic stocks also surged. The Nikkei 225 Index opened with a momentary rise of over 3,000 points, currently up about 8%, and the Korean KOSPI Index also rose over 5%.
Bitcoin Briefly Breaks Through $83,000
In the cryptocurrency market, Bitcoin surged overnight, breaking through $81,000 and briefly reaching $83,500 around six o'clock, with a slight pullback at press time, currently trading at $82,439, up over 9% in the past 24 hours.
Other top ten cryptocurrencies showed even stronger gains, with Ethereum rising above $1,600, while SOL, Doge, and ADA surged over 15% in the past 24 hours.
