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Stocks surged in early trading on Monday, March 24, 2025, amid reports that Trump administration tariffs scheduled to take effect on April 2, 2025, may be narrower than initially expected. This news lifted investor sentiment, with the S&P 500 climbing 81 points (1.4%) to 5,749, the Dow Jones Industrial Average jumping 506 points (1.2%), and the Nasdaq Composite advancing 334 points (1.9%) by 10:14 a.m. EST.
Tariffs and Market Impact
A White House official told AFP that planned tariffs on industries like automobiles and semiconductors may or may not take effect on April 2, as the situation remains “fluid.” While reciprocal tariffs—which President Trump had promised to impose to match tariffs from other countries—are still expected to move forward, the uncertainty about the extent of the tariff measures has sparked market optimism.
Economic Concerns and Forecasts
Financial markets have faced volatility this year due to concerns that aggressive tariff policies could hinder U.S. economic growth and spur higher inflation. Earlier this month, the Federal Reserve lowered its economic growth forecast to 1.7% from 2.1%, while also projecting stronger inflation this year.
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