From CNBC, April 10:
European markets rose sharply at the open on Thursday, after U.S. President Donald Trump temporarily reversed course on tariffs.
The regional Stoxx 600 index was 7.04% higher shortly after the opening bell, with stocks across the board surging to place all individual sectors firmly in positive territory. Banking, tech and industrials stocks notched the biggest gains, surging 10%, 9.9% and 9.1%, respectively.
In a volatile week for markets that has been marked by sharp moves higher and lower, the pan-European Stoxx 600 ended the prior session down 3.5% at its lowest closing level since January 2024.
But later on Wednesday, Trump temporarily reduced new tariff rates on imports from most U.S. trade partners to 10% for 90 days — a sharp reversal from previous comments in which he insisted duties would not be lifted.
U.S. stocks rallied after Trump’s announcement, with the S&P 500 soaring more than 9% during Wednesday’s session to see its third-largest gain in a single day since World War II.
The Dow Jones Industrial Average jumped 7.87% — its biggest percentage advance since March 2020 — and the Nasdaq Composite jumped over 12%, notching its largest one-day jump since January 2001 and second-best day ever.
Deutsche Bank Research’s George Saravelos said some version of the so-called “Trump put” — a play on options terminology that suggests the president would keep the stock market from falling too far — is back....
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Also at CNBC: Shipping giant Maersk, a bellwether for global trade, pops 10% on Trump’s tariff pause
