Global Markets Soar After Trump’s Tariff U-Turn – GIFT Nifty Hints at Fireworks Ahead

Updated April 10th 2025, 08:19 IST The S&P 500 soared 9.52%, or 474.13 points, to close at 5,456.

90—its largest daily gain since the 2008 global financial crisis. Stock Market Today: Global markets witnessed a powerful surge on Thursday after U.S.



President Donald Trump announced a temporary 90-day pause on increased tariffs for all countries except China. This move came amid growing concerns over global market volatility and was seen as an effort to calm financial markets and shift the trade war focus to a more targeted dispute with China. While tariffs on Chinese imports were raised sharply to 125%, other nations received a temporary break, now subject to a reduced 10% tariff.

The announcement triggered the biggest one-day rally on Wall Street in years. The S&P 500 soared 9.52%, or 474.

13 points, to close at 5,456.90—its largest daily gain since the 2008 global financial crisis. US Stock Markets The Dow Jones Industrial Average jumped 2,962.

86 points, or 7.87%, to 40,608.45.

The tech-heavy Nasdaq Composite surged 12.16%, or 1,857.06 points, to 17,124.

97, marking its strongest performance since the dotcom boom in 2001. The smallcap Russell 2000 Index also posted a significant rise of 8.66%, its biggest one-day jump since March 2020.

All 11 major sectors of the S&P 500 ended in positive territory. Technology stocks led the charge, with the sector gaining 14.15%.

Major tech players saw remarkable gains—Nvidia jumped 18.7%, and Apple rose 15.3%.

The S&P 500 Auto Index recorded its biggest single-day rise ever, up by a staggering 20.95%. Even defensive sectors like utilities saw more modest gains, with a 3.

91% increase. Also Read: 'Day to Remember': Trump's 90-Day Tariff Pause Results in Historic Gains on Wall Street, 3rd Best Day for S&P 500 Since 1940 Asian Markets Today The positive momentum quickly spread to Asian markets. Japan’s Nikkei opened over 10% higher and ended the session up 7.

38%, while the broader Topix index rose 7.12%. South Korea’s Kospi gained 5.

4%, and the Kosdaq climbed 4.61%. Australia’s S&P/ASX 200 futures indicated a 7% rise at open, which would be its biggest gain since March 2020.

Hong Kong’s Hang Seng Index opened slightly weaker but was still poised to benefit from the broader positive sentiment. Stock Markets Closed in India In India, markets remained closed on April 10 in observance of Mahavir Jayanti. However, signs of optimism were seen, with GIFT Nifty futures climbing 3.

40% to 23,252.00, indicating that Indian stock markets are likely to follow the global rally when trading resumes. While the equity, derivatives, SLB, and currency markets were shut, the commodity derivatives segment remained partially open, allowing for evening session trades.

Published April 10th 2025, 08:19 IST.