Stocks rose on Wednesday, staging a recovery rally after back-to-back losses as an exemption for automakers on President Donald Trump’s tariffs offered hope for more concessions.
The S&P 500 and Nasdaq Composite added 0.9% and 1.1%, respectively. The Dow Jones Industrial Average rebounded by 503 points, or 1%, regaining some ground after plunging more than 1,300 points over the last two sessions.
The White House said it granted a one-month delay for tariffs on automakers whose cars comply with the United States-Mexico-Canada Agreement. Stellantis surged more than 7%, while Ford and General Motors each added about 4% and 5%, respectively. White House Press Secretary Karoline Leavitt said Trump was open to providing additional exemptions on the taxes.
Still, uncertainty lingered as Trump said Canada’s fentanyl efforts were “not good enough” in a call with Canadian Prime Minister Justin Trudeau. It’s unclear if this automaker delay was the tariff-related announcement that Commerce Secretary Howard Lutnick said to expect on Wednesday.
Trump’s tariffs — and subsequent announcements of retaliatory plans from China, Mexico and Canada — have rocked markets this week. Even with Wednesday’s respite, the three major indexes are all down about 1% on the week. The three indexes swung between positive and negative territory for the day, underscoring the market volatility as investors tracked the status of tariff policy.
https://www.cnbc.com/2025/03/04/stock-market-today-live-updates.html
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