4E: Trump suspends tariffs for 90 days, U.S. stocks and crypto markets rebound strongly
ChainCatcher news reports that, according to 4E monitoring, after Trump announced a 90-day tariff suspension on countries that do not retaliate, investor panic sentiment significantly reversed, leading to a sharp rise in U.S. stocks during the trading session, with all three major indices closing with substantial gains. The Dow Jones Industrial Average rose by 7.87%, marking the largest single-day increase since March 25, 2020; the S&P 500 surged by 9.52%, achieving its best single-day performance since 2008; the Nasdaq rose over 12%, recording the second-largest single-day gain in history. Tech stocks performed exceptionally well, with the seven giants index soaring by 14.00%, and a total market value increase of $1.85 trillion in one day.The cryptocurrency market also experienced a collective surge, with Bitcoin continuing to climb from yesterday's low of $74,000, hovering around $83,000 before the deadline, a 24-hour increase of over 8.7%. Ethereum rebounded from a low of $1,385, reporting $1,660 before the deadline, with a nearly 14.6% increase in 24 hours. Other altcoins also saw significant rises, with the total crypto market cap increasing by 8.4% in 24 hours. However, market sentiment has not yet clearly recovered, indicating strong uncertainty regarding the recent tariff war.In the forex and commodities market, the trade dispute continues, with the dollar index failing to rebound and falling by 0.10%; crude oil rebounded strongly, averaging over a 5% increase during the midday session; spot gold fluctuated upward throughout the day, rising by 3.27% in New York's late trading.Recently, the market has reacted strongly to tariff news. Although some positive news has emerged, alleviating part of the market sentiment, the "suspended sentence" policy has not completely eliminated uncertainty and may instead bring more chaos.