Asia And Europe Markets Rally After Trump's Tariff U-Turn, Gold Nears Record High - Global Markets Today While US Slept

On Wednesday, April 9, U.S. markets closed higher in a powerful rebound. The S&P 500 soared 9.5%—its largest single-day gain since 2008—after President Trump announced a 90-day pause on tariffs for many countries with a 10% reciprocal Tariff on all except China, offering relief to anxious investors.

The rally was further fueled by strong demand in a U.S. Treasury auction, upbeat earnings from Delta Air Lines, and broad-based buying interest. Yet uncertainty remains over future policy shifts, inflation risks, and the upcoming earnings season.

On the economic front, mortgage applications surged 20% in the first week of April, reflecting renewed consumer activity.

All 11 sectors in the S&P 500 finished in positive territory, with consumer discretionary, information technology, and communication services posting the strongest gains.

Related: U.S. Futures Edge Higher, Nikkei Surges 8% As Trump’s 90-Day Tariff Pause Triggers Historic Rally, Analyst Warns ‘We’re Not Out Of The Woods Yet’

The Dow Jones Industrial Average jumped 7.87% to 40,608.45, the S&P 500 rose 9.52% to 5,456.90, and the Nasdaq Composite surged 12.16% to close at 17,124.97.

Asia Markets Today

• On Thursday, Japan’s Nikkei 225 jumped 8.99% to close at 34,564.00, marking its biggest single-day gain since 2008. The rally was driven by sharp rebounds in the Real Estate, Banking, and Textile sectors following U.S. President Trump’s surprise 90-day tariff pause. Investor sentiment surged, with nearly all stocks advancing, led by strong gains in tech and retail.
• Australia’s S&P/ASX 200 was up 4.54% and closed at 7,375.00, led by gains in the IT, Gold, and Metals and mining sectors.
• India markets were closed for the Mahavir Jayanti holiday.
• China’s Shanghai Composite rose 1.16% to 3,223.64, and Shanghai Shenzhen CSI 300 increased 1.31% to 3,735.12.
• Hong Kong’s Hang Seng Index gained 2.06% to 20,681.78.
• China’s consumer and producer inflation fell more than expected in March, highlighting weak domestic demand and mounting trade war pressures. CPI dropped 0.1% year-on-year, while PPI shrank for a 30th consecutive month.

Also Read: China Warns Citizens Over U.S. Travel After Trump’s Tariff Hike Triggers Retaliation, Cites’ Deteriorating’ Relations And Rising Security Risks

Eurozone at 05:45 AM ET

• The European STOXX 50 was up 5.10%.
• Germany’s DAX gained 5.02%.
• France’s CAC 40 rose 4.73%.
• U.K.’s FTSE 100 index traded higher by 3.78%.
• European stocks rallied strongly after President Trump announced a 90-day pause on most new U.S. tariffs, with major indices in Germany, France, and the U.K. posting significant gains amid investor relief.

Commodities at 05:45 AM ET

• Crude Oil WTI was trading lower by 2.53% at $60.78/bbl, and Brent was down 2.50% at $63.84/bbl.
• Oil prices dropped as escalating tensions in the U.S.-China trade war reignited fears of a global economic slowdown, overshadowing the temporary relief from Trump’s 90-day tariff pause. The sharp tariff hike on Chinese imports and Beijing’s retaliatory duties fueled concerns about weaker crude demand from the world’s top importers.
• Natural Gas fell 3.28% to $3.691.
• Gold was trading higher by 1.54% at $3,126.60, Silver was up 1.27% to $30.807, and Copper rose 3.55% to $4.3413.
• Gold prices surged in Asian trading, nearing record highs, as investors sought safety amid escalating U.S.-China trade tensions. This geopolitical instability boosted demand for gold as a safe-haven asset, while a weaker U.S. dollar further supported prices.

U.S. Futures at 05:45 AM ET

Dow futures were down 1.44%, S&P 500 futures declined 1.83% and Nasdaq 100 futures slid 2.13%.

Forex at 05:45 AM ET

• The U.S. Dollar Index declined 0.73% to 102.23, USD/JPY was down 1.14% to 146.07, and USD/AUD gained 0.13% to 1.6266.
• The U.S. dollar weakened broadly Thursday as traders reacted to Trump’s tariff decision, falling against safe-haven and risk currencies alike.

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