Stocks zoom higher after Trump hits pause on his EU tariff threat (again)
CNN
Rinse, repeat.
Rinse, repeat. Stock futures rose Tuesday after President Donald Trump did a 180-degree turn on his threat to place a massive 50% tariff on goods imported from the European Union. Dow futures were up 600 points, or 1.3%. The broader S&P 500 futures rose 1.5% and Nasdaq futures were 1.6% higher. Investors cheered in their first day of trading since Trump on Sunday delayed EU tariffs until July 9. He had initially said they’d go into effect next week. US markets were closed for Memorial Day on Monday, so Tuesday is the first chance for Wall Street to react since the on-again, off-again tariffs went off, again. If this feels familiar, that’s because this narrative continues to play out over and over again during the Trump administration. The president continues to threaten tariffs, markets react — sometimes severely — and the president often walks back his pledge, giving markets a sigh of relief. That’s why, after nearly plunging into a bear market in April, markets have largely rallied since Trump paused his “Liberation Day” tariffs and announced trade talks — and even a couple of deal frameworks with the United Kingdom and China. But several mini-threats and pauses since then have sent markets on a roller coaster.
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