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Markets act up again
April 11, 2025
|The Citizen
TRUMP: PAUSE OF STEEP TARIFFS SENDS DOLLAR PLUMMETING
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Stocks markets rocketed and the dollar fell yesterday after Donald Trump paused steep tariffs on most countries, while investors appeared to brush off the US president's decision to ramp up duties on China.
Trump's shock decision on Wednesday to delay most of the new tariffs by 90 days drove the European Union to put its counter-tariffs on hold, boosting European and Asian indices.
Trump's announcement came after European stock markets had closed down by around 3% on Wednesday, but in time to send Wall Street soaring.
Trump backtracked on the punishing tariffs after global equities plummeted and US Treasuries - considered the safest option in times of crisis - showed signs of cracking.
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