US Stock Market (April 2), Donald Trump Tariffs: Wall Street recovered initial loses to trade firmly in the green on Wednesday with the easing of uncertainty surrounding US President Donald Trump’s impending April 2 announcements. The 47th US President announced a 10 per cent baseline tariff on imports to the US and a 25 per cent tariff on imported automobiles. Describing the tariffs as “kind reciprocal tariffs”, Trump said: “April 2 will forever be remembered as the day American industry was reborn, the day America’s destiny was reclaimed… The day that we began to make America wealthy again.”
The Dow Jones Industrial Average (DJIA) gained as much as 392.3 points, or 0.9 per cent, to 42,382.3 in intraday trade, while the American technology stocks-heavy Nasdaq Composite soared to as high as 17,716.5, up 266.6 points, or 3.1 per cent, from its previous close. The S&P 500 rose 62.2 points, or 1.1 per cent, to an intraday high of 5,695.3, amid strong buying in consumer discretionary, industrial and financial stocks.
Among index heavyweights, Amazon.com and Amex were up around 2.0 per cent each at the last count, while Tesla shares were up 5.3 per cent.
For weeks, growing concerns about the US President’s harsh action on the trade front, and retaliatory action by America’s major trade partners, coming in the way of economic growth had kept investors on the back foot. Wednesday’s announcements offered clarity on that front, taking away some of investors’ concerns about the possible impact of an all-out trade war on the global economy.
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US Stock Market on Wednesday, April 2 | Here is how Dow Jones, S&P 500 & Nasdaq fared
At 4:46 pm Eastern Time on Wednesday, (2:16 am in India on Thursday), this is where the main American indices stood:
- DJIA: up 235.4 points, or 0.6 per cent, at 42,225.3
- S&P 500: up 37.9 points, or 0.7 per cent, at 5,671
- Nasdaq: up 151.2 points, or 0.9 per cent, at 17,601.1
- Russell 2000: up 33.1 points, or 1.7 per cent, at 2,045.4
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Top Dow Jones Gainers vs Losers
Nineteen Dow constituents were in green territory at the last count in the final hour of trade.
| Stock | CMP | Change (%) |
| Goldman Sachs Group Inc | 563.1 | 2.67 |
| Amazon.com Inc | 196.01 | 2 |
| American Express Co | 275.25 | 1.76 |
| Coca-Cola Co | 71.33 | -0.75 |
| Chevron Corp | 166.47 | -1.21 |
| Verizon Communications Inc | 44.74 | -1.41 |
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