The New York Stock Exchange started positively on the 24th (local time). Reports emerged that the Donald Trump administration may postpone tariffs on certain items that were scheduled to be imposed on the 2nd of next month, alleviating some concerns about trade contraction.
At noon on the same day, the Dow Jones Industrial Average recorded an increase of 562.85 points (1.34%) to 42,548.20. The Standard and Poor's 500 index rose by 93.98 points (1.66%) to 5,760.89, while the Nasdaq Composite Index showed an increase of 362.58 points (2.04%) to 18,146.39.
The three major indices began lower on the previous trading day, the 21st, but turned upward before the market closed. President Trump maintained the 'no exceptions' approach to tariffs while emphasizing 'flexibility,' which revived investor sentiment.
The 24th, which started on a positive note, also appears to have eased market concerns regarding tariffs. Investors focused on the possibility of reduced tariffs, which were regarded as the sparks of a global trade war.
According to local media, the Trump administration is expected to scale down the scope of tariffs that were scheduled to be announced on the 2nd of next month. Some items, such as automobiles, semiconductors, and pharmaceuticals, are expected to be excluded, and there is hope that the number of countries imposing tariffs will also be reduced.
Accordingly, the stock prices of American corporations in the automotive sector also started to rise. Tesla was trading over 9% higher, GM was up over 3%, Ford rose by 2%, and Stellantis was up over 1%.
Most major technology stocks are also rising. Nvidia, Apple, Alphabet, Amazon, and Meta all saw increases in their stock prices compared to the previous day.
However, some experts have expressed concerns that market turmoil from tariffs may continue for some time. Megan Horneman, chief investment officer at Verdence Capital Advisors, noted, "Even after tariffs are clarified, the secondary effects of tariffs are still unknown, so market volatility may persist."