By Stefan J. Bos, Chief International Correspondent Worthy News
NEW YORK/TOKYO/LONDON (Worthy News) – Asian shares climbed, and a manic bond selloff stabilized on Thursday after U.S. President Donald J. Trump said he would temporarily lower the hefty duties he had just imposed on dozens of countries.
But market watchers said U.S. stock futures, which indicate stock prices after the stock markets open in New York, and the dollar were left out of Thursday’s relief rally despite an overnight surge on Wall Street.
Critics said investors’ confidence in the U.S. administration crumbled, and the “sell America” trade heated up.
Following a days-long market rout that erased trillions of dollars from global stocks and jolted U.S. Treasury bonds and the dollar, Trump on Wednesday announced a 90-day pause on many of his new tariffs in a shock reversal.
“The world, political and financial, is looking on with horror, not bemusement, at an administration that prioritizes the signing of an executive order for more water-power in shower heads, on the same day that the bond market breaks and investors question the long-term credibility of the administration having flip-flopped on the largest of their policies, tariffs,” said Martin Whetton, head of financial markets strategy at Westpac, the Australian multinational banking and financial services company headquartered in Sydney.
He spoke as Trump’s lower tariffs for most nations and a 125 percent tariff on Chinese imports came into force. Beijing said it would raise levies on U.S. imports to 84 percent from 34 percent.
Oil prices continued to climb in late trading Wednesday, with benchmark U.S. crude futures rising to about $63 a barrel.
The Magnificent Seven tech stocks gained more than $1.8 trillion in market value on Wednesday, a record. Nvidia led the way with a $440 billion market-value gain as its stock rose 19 percent. Tesla soared 23 percent, while Apple and Meta Platforms added 15 percent.
Stock markets in Europe were also expected to rally after Asia. Ironically, Trump told his followers on the social media platform Truth Social to invest in the stock market. Those who did made a small fortune as stocks soared to one-day levels not seen since World War Two.
Copyright 1999-2025 Worthy News. This article was originally published on Worthy News and was reproduced with permission.
More Worthy News
An international group of influential climate activists demand a new global treaty to phase out fossil fuels to prevent the “assassination of humanity,” despite growing concerns that there aren’t yet enough alternatives available to sustain global economic growth.
A coalition of American Christian leaders gathered on the steps of the U.S. Capitol on Friday to pray and “thank President Donald J. Trump” for reportedly designating Nigeria as a “Country of Particular Concern” (CPC) over the killing of thousands of Christians by Islamic groups.
The student revival movement that has been shaking campuses across America surged again Tuesday night as more than 6,000 students packed J.S. Dorton Arena at North Carolina State University to worship Jesus Christ, hear the Gospel, and respond to the call of salvation.
The U.S. Justice Department came under mounting pressure to release all files related to deceased convicted sex offender Jeffrey Epstein, despite strong opposition from the White House and signs that U.S. President Donald J. Trump is reluctant to make the documents fully public.
France paid an emotional tribute Thursday to the 130 people killed ten years ago during a night of coordinated attacks by Islamic State extremists who targeted cafés, restaurants, and the Bataclan concert hall in Paris.
The Trump administration on Nov. 13 finalized a sweeping rollback of Biden-era restrictions on oil and gas development in Alaska, restoring access to more than 13 million acres of the National Petroleum Reserve–Alaska (NPR-A) in a move officials say will bolster U.S. energy security and revive North Slope communities.
The United States on Thursday urged the UN Security Council to support Washington’s draft resolution establishing an International Stabilization Force (ISF) to secure postwar Gaza and guide the territory into a future “free from Hamas.” The measure — a central pillar of President Donald Trump’s broader Middle East peace framework — has been crafted with input from Qatar, Egypt, Saudi Arabia, Turkey, and the United Arab Emirates.