Markets Surge as Trump Hits ‘Pause’ on Tariffs; Bitcoin Briefly Breaks $82K

Wall Street rallied hard on April 9 after a surprise move by former President Donald Trump to temporarily ease trade tensions. A 90-day freeze on new tariffs sent stocks soaring and pushed Bitcoin above $82,000 for the first time this week.

At 1:50 p.m. ET, Bitcoin (BTC) touched $82,466 before slightly pulling back, reacting in real time to Trump's announcement. Over on Wall Street, the S&P 500 surged 7.6%, the Dow Jones Industrial Average rose 6.5%, and the Nasdaq led the charge with a 9.5% gain—snapping a brutal four-day selloff.

Trump took to Truth Social to announce the policy shift: “I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately.” The markets had been rattled since April 2, when Trump unveiled sweeping tariffs aimed at key global players including China, the EU, and Japan.

Bitcoin had dipped as low as $74,500 earlier in the week, but its recovery reinforced its reputation as a barometer for geopolitical risk. Despite the tension, BTC showed relative resilience compared to traditional markets.

Still, investors aren’t declaring victory just yet. While the 90-day pause offers breathing room, it may only delay further volatility. With global trade negotiations still up in the air, uncertainty looms beyond the summer.