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Trump Delays Tariffs for 90 Days. The S&P 500 Rebounds Sharply
The US stock market has experienced a significant turnaround in recent hours, following the announcement by President Trump that he would be delaying the implementation of wide-ranging global trade tariffs for an additional 90 days. This decision has sparked a sharp rebound in the S&P 500 index.
In response to the news, the Dow Jones Industrial Average and other major US indices have made significant gains, with the Nasdaq composite rising by nearly 2% on the day. The strong reaction from markets highlights the impact that government policy can have on the direction of stocks.
As the chart shows, the S&P 500 had been in a downtrend prior to the announcement, with prices hovering around the 4,900 level. However, following the news, the index has surged higher, moving into the upper half of the channel and forming a potential Double Bottom pattern (A-B).
While the delay in tariffs provides some relief for investors, many remain concerned about the overall impact that trade tensions could have on the global economy. The threat of these tariffs has been cited as a key factor contributing to the recent volatility in financial markets.
Despite this uncertainty, the market’s response suggests that investors are placing greater emphasis on the prospect of a negotiated resolution to the ongoing trade dispute. However, it is worth noting that this optimism should be tempered by the fact that the tariffs have not been cancelled entirely and the risk of an escalating trade war remains a significant factor in the short-term outlook for equities.
In light of these developments, traders will need to carefully assess the risks associated with any potential escalation in tensions between the US and its major trading partners.
Source: https://fxopen.com/blog/en/oa-trump-delays-tariffs-for-90-days-the-s-p-500-rebounds-sharply/
