S&P 500, Nasdaq hit record highs as markets rebound from April’s tariff despair
In April, the stock and bond markets were in turmoil after Trump unveiled a more-severe-than-expected tariff plan.
- The S&P 500 and Nasdaq both hit all-time highs late Friday morning after President Donald Trump said that the U.S. had signed a new trade deal with China.
Just two months ago, the markets seemed to be in crisis as investors despaired over the effects of President Donald Trump’s sweeping set of tariffs. Now, the markets are jubilant.
Late Friday morning New York time, the S&P 500 notched a new all-time high of 6,184 points as the stock index jumped 0.7% over the past three hours. The Nasdaq also hit an all-time high of 20,310 as it rose 0.65% since markets opened. The Dow Jones was up 1.1% and flirting with its own record.
The rally came after Trump said Thursday at a White House event that his administration had just signed a trade deal with China.
This story is developing and will be updated.
This story was originally featured on Fortune.com
