US Stocks Drop Day After Trump Tariff Pause Announcement

Wall Street opened sharply lower on Thursday morning, coming a day after President Donald Trump’s announcement that he would pause reciprocal tariffs for every country except China. As the markets opened at 9:30 a.m., the Dow Jones Industrial Average was down by roughly 700 points, or more than 2 percent, while the Nasdaq composite shed more than 400 points, or roughly 2 percent. The S&P 500, which had posted its largest single-day gain since 2008 after Trump’s announcement, dropped by more than 2 percentage points. In the global markets, Germany’s DAX initially gained more than 8 percent and was up by 5.3 percent later on, while France’s CAC 40 in Paris gained 5 percent and Britain’s FTSE 100 surged by 4 percent. Japan’s benchmark jumped by more than 9 percent as investors welcomed Trump’s decision to put his latest tariff hikes on hold for 90 days....