By Sinéad Carew and Shashwat Chauhan

(Reuters) – The New York Stock Exchange ended up sharply on Wednesday after US President Donald Trump announced a 90 -day break on customs duties aimed at imports from many countries, with the exception of China, causing relief to investors concerned about the economic impact of Washington’s commercial policy.

The Dow Jones index won 7.87%, or 2,962.86 points, at 40,608.45 points.

The wider S&P-500 took 474.13 points, or 9.52%, at 5,456.90 points.

The Nasdaq Composite advanced 1,857.06 points (12.16%) at 17,124.97 points.

It is for the S & P-500 of a percentage of increases on an unprecedented session since 2008, while the Nasdaq had not experienced such progression since January 2021.

The fact remains that the three main Wall Street clues ended up under their levels of April 2, the day Donald Trump announced so-called “reciprocal” taxes from 11% to 50% on dozens of countries, including the main trade partners of the United States.

The reversal of the American president intervened just a few hours after the entry into force on Wednesday at 04:01 GMT of these vast customs duties.

During this break, customs duties of 10% – the “floor” rate – are maintained on all imports in the United States, said the White House, apart from those from China, whose products will on the contrary be targeted, with immediate effect, by additional taxes, raised to 125%.

Donald Trump accuses Beijing for not having returned back to the retaliation measures announced against American products. China expressed earlier its desire to fight against the “blackmail” of the United States by imposing customs duties of 84% on its products from Thursday.

If Donald Trump’s midday announcement did not raise uncertainties on Washington’s long-term commercial policy, the traders took the opportunity to make low-cost purchases, after four consecutive days of net withdrawal in the financial markets.

“For the past few days, the markets have been looking for a reason to go up. They cannot bear extreme conditions for too long without it feeling them,” said Carol Schleif, BMO Private Wealth, Minneapolis.

“The 90-day suspension actually offers an oxygen bubble to allow negotiations to take place, and the market values ​​have clearly been reset,” she added.

“However, uncertainty for companies remain”.

After the announcement of the White House, Goldman Sachs said he suppressed his recession forecast, returning to the prior estimate of economic growth in 2025.

Note that the rebound in Wall Street Wednesday afternoon made sense after such levels of occurrence, Kevin Gordon, senior strategist at Charles Schwab, however warned that he was inappropriate to have any certainties at present.

“We have to wait to find out what policy will be in the end, but unfortunately it changes almost daily,” he said.

“Put yourself in the place of a company that wants to plan capital expenses or recruitments in this environment. If the rules are constantly changing, it is not a healthy environment for businesses,” he added. Donald Trump’s turnaround occurs when the quarterly results season will open, which should shed light on the health of American companies in a context of fears about growth because of customs duties.

Several major American banks, including Jpmorgan Chase, will publish their results on Friday.

CBOE’s volatility index, considered the level of fear level to Wall Street, clearly fell back on Wednesday afternoon, ending at 33.62 points when it had reached 57.96 earlier in the session.

All the major sectors of the S&P-500 have increased, like technologies, which bonus 14.15% in the wake of Nvidia and Apple.

On the sidelines of the effervescence aroused by the announcement of Donald Trump, the American Federal Reserve (Fed) published the report of his monetary policy meeting last month. According to these “minutes”, the institution officials were almost unanimous in their fears of an increase in inflation and a simultaneous economic slowdown.

A report planned for Thursday on consumer prices in the United States should give elements on the trajectory of inflation.

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(Written by Jean Terzian)

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