Overseas stock indexes are rallying after President Donald Trump said he would pause "reciprocal" tariffs for 90 days for all trading partners except China. U.S. stock futures are pulling back after soaring yesterday on the news.

Global markets experienced significant volatility on Wednesday, April 9, 2025, as a new round of U.S. tariffs went into effect, prompting retaliatory measures from China and concerns about the potential for a protracted trade war.

Asia's biggest economy, China, has also hit back with its own tariffs, deepening the global stock market turmoil on Friday. All three major US stock indexes in fell by more than 5%, with the S&P 500 dropping almost 6%, capping the worst week for the US stock market since 2020.