Stocks swept Wall Street, tracking Wall Street’s performance after the U.S. president said it would postpone the 90-day measures announced last week, triggering a fire on trading floors and a warning about a global recession.
Trump said he would impose a basic tax of 10% on dozens of countries, but raised his stakes in a brutal trade war with superpower rival China and suffered even more efforts after retaliation over the weekend.
Trump made the decision because he said investors were “a bit out of touch” because the market collapse and the U.S. Treasury (which was considered the safest option in times of crisis) also showed signs of concern about the world’s highest economy.
He added that people are “becoming more and a little scared”, referring to sports terms that describe the loss of nerves.
However, Beijing’s additional tariffs on Beijing are “based on the respect China shows for the world market.”
The president denied that he turned around and told reporters that “you have to be flexible.”
Asian traders welcomed the move, exacerbating stocks across the region.
Hong Kong rose more than 4% – on Monday, the worst day of the Asian financial crisis in 1997, it closed down more than 13% on Monday, a third-day gain. Shanghai rose by more than one percent.
Both markets have received optimistic additional support that Chinese officials will launch fresh stimulus under tariff measures to support the economy.
Official data show that consumer prices fell again last month.
“Fear and joy”
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Tokyo’s Nikkei surged by more than 8%, with Seoul and Singapore accounting for more than 5%, and Sydney and Jakarta respectively exceeding 4%.
Taipei’s 9.3% earnings were the best rise of its record show – a 9.7% drop on Monday was the worst fall.
Vietnam stocks facing some of the most important tariffs rose 6.5%, while Manila and Wellington were also in the green spots.
Tech companies are outstanding performers, Sony, Sharp, Panasonic and SoftBank have grown double-digit chalk, while airlines, automakers and casinos enjoy strong purchases.
Apple suppliers released a sensational rally – Hong Kong-listed AAC technology soared 23%, and in Taiwan, Honghai increased by nearly 10%.
“Asian markets are shifting the transition – from fear to euphoria – Trump threw a 90-day lifeline, pausing the resilience of mutual tariffs,” said Stephen Innes of SPI Asset Management.
“The president’s post expressed ‘yippy’s reaction to his historical hike, and to be honest, it sums up that.
“We’ve just witnessed one of the rebounds of all time – and now, we’re looking for Asian investors like our North American counterparts to step in and buy ‘yips’.”
Tooring.com said that after successfully auctioning $38 billion in notes, U.S. fiscal revenue also decreased.
This relieves pressure on the bond market, which has troubled investors’ concerns about losing confidence in the United States.
The unrest caused by the Trump trade war has also caused a headache for the U.S. Federal Reserve as it tries to decide whether to lower interest rates to protect the economy or to raise them to resist inflation, and many say tariffs will be fueled.
A few minutes after the central bank’s March meeting was released on Wednesday, indicating members’ concerns that “the tariff increase has been announced or planned is larger and broader than many expected.”
That was before the president revealed his extensive duties to friends and enemies up to 50% – now stop until July.
Some policymakers noted that they “will face tough trade-offs if inflation is more durable and the outlook for growth and employment are weakened,” the minutes show.
Oil prices fell after a much-needed rebound of more than 4% on Wednesday. Nevertheless, the two major contracts remain under pressure due to concerns about the global economy and its impact on demand.
Gold also gathers about 2%, while Bitcoin is more than 6%.
