The technically savvy Nasdaq composite index surged even more, up 12.2 percent. The index has not risen this much in a single day since 2001, reports CNBC. The Dow Jones industrial index rose 7.9 percent.
Compared to the levels a month ago, however, the three leading indexes on the US stock exchange have fallen by more than 5 percent.
Trump wrote on his own platform Truth Social – 2.5 hours before the stock market closed – that he had approved a 90-day pause on tariffs against countries that have not introduced retaliatory tariffs against the US.
Tesla up 23 percent
And the response did not wait. Among other things, the prices of technology giants such as Apple, Nvidia, and Tesla skyrocketed. The surge in Tesla, led by Trump's close ally Elon Musk, was exceptional: the stock soared and closed at 22.7 plus.
Earlier in the day, Trump tried to boost Wall Street and wrote on Truth Social that "everything will be fine". In another post, it said: "This is a great opportunity to buy" shares in his own company Trump Media, which operates Truth Social, among other things.
Trump Media rose 21.7 percent.
"Worst not over"
For the Stockholm stock exchange, which fell 3.2 percent on Wednesday before Trump's announcement about the tariff pause, the strong upswing on the US stock exchange bodes well, according to Christina Sahlberg, economist at the comparison site Compricer.
Even though it's slightly different conditions for different stocks, we can expect a solid upswing tomorrow on the Stockholm stock exchange.
But it's too early to say that the worst is over, according to Sahlberg.
We have three months of uncertainty figures ahead of us when we don't know what will happen with the tariffs. And then I think we will continue to see great uncertainty on the market. So it will be bumpy.
