Breakfast | Trump announces a temporary suspension of reciprocal tariffs from multiple countries, U.S. stocks rebound violently: Tesla surges 23%, tech stocks soar

Market Overview

Dramatic turn! After Trump announced a suspension of reciprocal tariffs for most countries during trading, U.S. stocks rebounded violently, soaring as investor sentiment completely reversed!

The Nasdaq index closed up 1,857.06 points, a staggering increase of 12.16%, marking the largest single-day gain since 2001 and the second-largest single-day gain in history. The S&P 500 index also did not lag behind, surging 9.52% in one day, while the Dow Jones Industrial Average soared nearly 3,000 points, with an increase of 7.87%.

Tech giants experienced widespread surges, with Tesla closing up 22.64%, NVIDIA up 18.72%, Apple up 15.33%, Meta Platforms up 14.76%, Amazon up 11.98%, Microsoft up 10.13%, and Google A up 9.63%.

Chip stocks were equally crazy, with the Philadelphia Semiconductor Index closing up 18.73%, marking the largest single-day gain in history, at 4,230.45 points. AMD closed up 23.82%, and TSMC ADR rose 12.29%.

Most popular Chinese concept stocks were also strong, with Xiaomi ADR closing up 14%, Bilibili and Li Auto rising nearly 7%, XPeng rising over 6%, Alibaba and Nio rising over 5%, and Tencent ADR rising over 4%.

Trump Speaks on Tariffs, U.S. Stocks Surge Midday, Nasdaq, Apple, and NVIDIA Soar Double Digits

Just a week after announcing comprehensive tariffs, U.S. President Trump decided to postpone their implementation.

On Wednesday, shortly after the U.S. stock market opened, Trump spoke out in an attempt to boost market sentiment. According to Sina, Trump stated on social media at the beginning of the U.S. stock market: “Stay calm! Everything will be resolved smoothly.”

In the early session, the three major U.S. stock indices fluctuated slightly, with the S&P and Dow briefly turning negative. During the midday session, after Trump announced a 90-day suspension of reciprocal tariffs on multiple countries, the major U.S. stock indices collectively jumped, with chip stocks like NVIDIA rebounding strongly, and Apple, which had recently plummeted due to concerns about high tariffs impacting the supply chain, rebounding double digits, along with various emerging market currencies rising.

China’s Strong Countermeasures! Imposing an Additional 50% Tariff on All Imported Goods Originating from the U.S., Listing 12 U.S. Entities on the Export Control List

Earlier last night, according to CCTV News, with the approval of the State Council of China, starting from 12:01 PM on April 10, 2025, the additional tariffs on imported goods originating from the U.S. will be adjusted from 34% to 84%. It was decided to list 12 U.S. entities, including American Photon Company, on the export control list. China has filed a lawsuit against the U.S. for its latest tariff measures under the WTO dispute resolution mechanism.

EU Votes to Approve 25% Tariff Countermeasures Against the U.S., This Round of Countermeasures Mainly Targets U.S. Steel and Aluminum Tariffs

According to CCTV News, the value of the goods involved in this countermeasure is approximately 21 billion euros, with a wide range of products subject to tariffs, including soybeans, poultry, rice, fruits, nuts, timber, textiles, and more. The tariff measures on the first batch of goods will take effect on April 15, the second batch is expected to take effect on May 16, and the third batch of tariff measures on soybeans and various nut products will be implemented starting December 1

Federal Reserve Minutes: Most Officials Concerned About Tariffs' Prolonged Impact on Inflation, Some Fear "Difficult Trade-offs"

Federal Reserve policymakers unanimously agree that the economic outlook is highly uncertain and that inflation faces upward risks; the Federal Reserve is fully capable of waiting for clearer inflation and economic prospects before taking action; some participants pointed out that if inflation persists while growth and employment prospects weaken, they may face "difficult trade-offs"; nearly all supported last month's decision to slow down balance sheet reduction, but many believe there was no convincing reason to slow down at this meeting. The Federal Reserve staff's real GDP growth expectations are weaker than they were in January.

Morgan Stanley Traders' Frontline Interpretation of U.S. Stocks: Quick Money Has Already Left, Retail Investors Have Not Yet Surrendered, Foreign Capital Is the Biggest Question

Morgan Stanley believes that among all capital flow dynamics, actual funds outside the U.S. could have the largest downward impact—if foreign capital begins to question the "American exceptionalism" and withdraws from the U.S. market, the stock market will face more downside risks, and a new round of bottom-seeking may occur in the coming months.

Trade War Begins to Backfire on the U.S., Walmart and Delta Air Lines Withdraw Earnings Guidance

U.S. retail giant Walmart and airline giant Delta Air Lines have both withdrawn their earnings guidance, serving as two major barometers of the U.S. economy, they are sending clear and unmistakable warning signals: the uncertainty brought by the trade war has begun to materially affect the profitability of U.S. companies and consumer confidence, and the U.S. business community is mired in unprecedented uncertainty