US stocks plummet after historic surge following Trump’s halt on tariffs: Live

U.S. stocks experienced a significant drop on Thursday, erasing more than half of their remarkable gains from the previous day, resulting from continued uncertainty stemming from President Donald Trump’s trade policies. The S&P 500 witnessed a 5% loss in midday trading, concluding the day with a 3.45% decline, which affected the 9.5% increase it had seen on Wednesday following the president’s decision to suspend many of his global tariffs. The Dow Jones Industrial Average finished the day 2.54% down, while the Nasdaq composite fell by 4.31%. Bhanu Baweja, a UBS strategist, noted in a report that Trump’s actions may have shown a moment of weakness, but the negative effects of his policies remain apparent.

Trump’s abrupt shifts in tariff strategies led to a rollercoaster ride for global markets and sparked concerns within the U.S. economy. Initially, as his tariffs took effect, causing turmoil in the market, he advised everyone to “be cool.” However, shortly after the trading began on Wall Street, he made an unexpected U-turn by pausing and reducing tariffs on most nations for a 90-day period while simultaneously raising import levies on Chinese goods. This decision sent markets into a frenzy and elicited claims of a reverse “pump and dump” scheme, with accusations of insider trading and market manipulation circulating on social media platforms.

The Supreme Court’s recent ruling that the Trump administration must facilitate the return of a Maryland father, wrongfully deported to a notorious El Salvadoran prison, further intensified the day’s events. The administration admitted that the father’s deportation was an “administrative error,” and the court ordered his return while emphasizing the importance of the executive branch’s role in foreign affairs. This decision shed light on the turbulent nature of current federal policies and their broader implications.

Recent occurrences within the Trump administration have also faced criticism, with Homeland Security Secretary Kristi Noem’s controversial ICE raid accompanied by a social media influencer garnering negative reactions from both sides of the political spectrum. Noem’s decision to partake in a raid wearing tactical gear while the social media influencer simulated a law enforcement officer raised concerns about glamorizing law enforcement activities for political gain. Conservative figures, including Megyn Kelly, expressed disapproval of this attempt to dramatize immigration enforcement operations.

During a somber note, President Trump extended his condolences to the families affected by a tragic helicopter crash in New York City, which claimed the lives of six individuals, including a family from Spain. The president, alongside Secretary of Transportation Sean Duffy, acknowledged the devastating loss and offered support to the grieving families.

Overall, the wild fluctuations in the stock market, the administration’s policy decisions, and the broader societal implications of recent events signal a tumultuous period marked by uncertainty and instability under the Trump administration.