U.S. stocks tumbled Thursday, erasing much of Wednesday’s historic rally, as President Donald Trump’s fluctuating trade policy reignited investor uncertainty. The S&P 500 fell 3.5% at close, following a 9.5% surge after Trump paused many tariffs. The Dow dropped 2.5%, while the Nasdaq lost 4.3%. Canada’s S&P/TSX also declined over 3%.
UBS strategist Bhanu Baweja noted Trump’s tariff pause failed to reverse prior damage, especially as tariffs on Chinese goods now total 145%. Wall Street’s sell-off intensified after the White House clarified higher rates than Trump initially posted. The S&P 500 flirted with bear market territory, nearly closing 20% below its record.
Despite Wednesday’s optimism, volatility persists. Geo Securities CEO Francis Lun warned, “The threat of recession has not faded.” Meanwhile, the bond market, a traditional economic barometer, offered brief relief as Treasury yields eased post-inflation data, though they crept back up later in the day, reflecting ongoing instability.
Source: Swifteradio.com
