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US stocks plunged Thursday morning following a record surge after President Trump announced a 90-day pause on nearly all import tariffs.
The Dow Jones Industrial Average plummeted 836 points, or 2.1%, by about 10 a.m. ET after soaring 2,962.86 on Wednesday – its largest one-day points gain in history.
The S&P 500 and the Nasdaq 100 fell 2.7% and 3.3%, respectively, Thursday morning after the historic Wall Street rally.
Major stock indexes notched several records on Wednesday, with the S&P 500 roaring back more than 9% for its third-largest single day gain since World War II, and the Nasdaq Composite recording its second-best day ever.
The turnaround for the markets came after Trump announced a 90-day reprieve for most countries, dropping their tariff rates to 10%.
