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Media Stocks Skyrocket With Dow Up 2,700 Points As Donald Trump Pauses Latest Round Of Tariffs
Media and tech shares skyrocketed amid a broad stock market rally after Donald Trump paused punishing new tariffs on most countries except China.
By mid-afternoon, facing massive blowback, he reversed course, announcing a 90-days suspension of most new import taxes, fueling a market buying frenzy after a dismal week. Media and tech stocks, which had been trading sideways today after suffering huge losses in recent sessions, immediately shot higher on the tariff reprieve Trump unveiled on Truth Social. Reciprocal tariffs on China, the nation’s third largest trading partner, went the other direction, rising from an already surreal 104% to 125% due to what Trump called “lack of respect.”
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