Stocks closed mixed in most volatile session since the pandemic as Wall Street is ‘starting to find a bottom’

President Donald Trump is displayed on a television screen as traders work on the floor of the New York Stock Exchange on April 7th, 2025 in New York City. (Credit: Spencer Platt—Getty Images)

• President Donald Trump’s announcement of sweeping “reciprocal tariffs” caught investors completely off guard last week, but news of negotiations and an erroneous report about a 90-day pause might have given traders some hope. Meanwhile, hedge funds may have supported share prices as they covered their short positions.  

Markets are gyrating like it’s 2020 all over again as investors continue to reckon with President Donald Trump’s sweeping “reciprocal tariffs,” resulting in Wall Street’s most volatile session since the onset of the COVID-19 pandemic.