Though many predicted a catastrophe, the market closed in a better state than predicted. By the 4 p.m. close, the S&P 500 fell 0.2%, the Dow Jones Industrial Average fell 0.9%, and the NASDAQ Composite rose 0.1%.
An electronic display shows financial information on the floor at the New York Stock Exchange in New York on Monday, April 7, 2025. (AP Photo/Seth Wenig)
The S&P 500 witnessed one of the most dramatic swings, taking place over 15 minutes, from 10:10 a.m. to 10:25 a.m.
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At 10:10 a.m., traders caught wind of an erroneous report amplified by CNBC, claiming Trump was considering a 90-day pause on his “Liberation Day” tariffs. Within 10 minutes, the S&P 500 added $3 trillion. The White House Rapid Response X page
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