
Wall Street is in turmoil. President Donald Trump announced “reciprocal” tariffs on U.S. trading partners on April 2, raising investor panic and leading analysts at JPMorgan and Goldman Sachs to raise their recession odds forecasts for 2025. Major stock benchmarks entered correction territory, with popular tech names selling off violently.
Then, Trump announced a 90-day pause on tariffs for all trading partners except China. The stock market soared, with the S&P 500 Index ($SPX) closing up nearly 10% on Wednesday, April 9.