U.S. stocks jump higher as global stocks rally amid Trump tariffs

President Donald Trump is seen on the television as traders work on the floor at the New York Stock Exchange in New York, on April 7, 2025.
| Photo Credit: AP

Wall Street stocks surged higher early Tuesday (April 8, 2025) as global markets rallied following deep losses in hopes of trade agreements that would remove U.S. President Trump’s heavy tariffs.

All three major U.S. indices were up more than three percent in early trading as Mr. Trump described an upbeat call with the head of South Korea while U.S. Treasury Secretary Scott Bessent said Japan had sought quick negotiations.

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About 15 minutes into trading, the Dow Jones Industrial Average was up 3.1% at 39,126.05.

The broad-based S&P 500 climbed 3.2% to 5,221.73, while the tech-rich Nasdaq Composite Index jumped 3.4% to 16,134.89.

Mr. Trump reported a “great call” with the South Korean leader on his Truth Social platform, adding that “we are likewise dealing with many other countries, all of whom want to make a deal with the United States.”

Mr. Bessent told CNBC that Japan was at the forefront of talks so far, while asserting that China had made a “big mistake” in announcing retaliatory levies on US goods.

Briefing.com analyst Patrick O’Hare described Tuesday’s bounce in equities as a “relief rally,” while noting that China is “the elephant in the tariff room right now.”

Mr. O’Hare also described the state of US tariff talks with the European Union as an “unknown.”

Among individual companies, health insurance companies UnitedHealth Group, Humana and CVS Health all surged seven percent or more after the Trump administration finalized a rule boosting payments to insurers under the government Medicare program.