S&P 500 Rises 1% as Dollar Falls on Tariff Delay: Markets Wrap
- US wholesale inflation tops estimates on food, energy prices
- Trump moves to impose reciprocal tariffs as soon as April
This article is for subscribers only.
Stocks came within a striking distance of their all-time highs while the dollar got hit as President Donald Trump moved to impose reciprocal tariffs — but not right away.
All major groups in the S&P 500 rose, with the gauge up 1%. The greenback dropped against all of its developed-market counterparts. Treasuries rebounded from their worst slide since December. Big tech outperformed as Tesla Inc. and Nvidia Corp. each rallied over 3%. Apple Inc. gained 2% as chief Tim Cook said the “newest member of the family” is coming on Feb. 19. Meta Platforms Inc. advanced for a 19th straight day.