Stocks Surge as Trump Announces a Delay to Global Tariffs

Stocks surged on Wednesday afternoon, ripping higher after President Trump said he would back down on tariffs for most of the world for the next 90 days, citing new talks with foreign nations.

The S&P 500 climbed over 7 percent in a matter of minutes after Mr. Trump posted the decision on Truth Social, sharply reversing days of losses.

It was a drastic turn for a market that has been racked by anxiety about the rollout of the new tariffs, which had taken effect before Mr. Trump announced the pause. The sharp reversal left the S&P 500 9.5 percent higher Wednesday, its best day since the recovery from the 2008 financial crisis.

Some analysts cautioned that while the tariff reprieve was welcome, more volatility could still be ahead. The 90-day pause did not eliminate the profound uncertainty that has weighed on the stock market for weeks as Mr. Trump has revealed his tariff plans, leaving companies often guessing how the ever-changing trade sanctions might affect their businesses.

On Wednesday, Trump administration officials boasted that many nations were now willing to negotiate trade deals with the United States, but the outcome of those talks could remain unclear for months, prolonging the uncertainty for companies, investors and consumers.

“The tariff clouds parted for the first time today, but it’s too soon to know how sunny the skies will be tomorrow — or 90 days from now,” said Daniel Skelly, head of the wealth management market research and strategy team at Morgan Stanley. “As welcome as the announcement was, investors can’t assume it’s the end of the tariff story, or that the market’s day-to-day volatility will disappear.”