WALL STREET CLOSES UP AFTER A CHOPPY TRADING SESSION – Volatility gripped U.S. markets as investors speculated about the scope of tariffs and their impact
U.S. stock indexes closed higher after a choppy trading session, falling early and then rebounding as investors made last-minute bets to position themselves ahead of U.S. President Donald Trump’s sweeping tariff announcements.
Volatility has gripped U.S. markets in recent weeks as investors speculated about the scope of tariffs and their impact on the global economy, inflation and corporate earnings.
The CBOE Volatility Index, known as Wall Street’s fear gauge, has remained for the last three sessions around a level last seen in mid-March.
Some tariffs, including on steel, aluminum and autos, have already been announced, although the main thrust of Trump’s tariff policy is set to be unveiled during a White House Rose Garden ceremony scheduled for 4 p.m. ET (2000 GMT).
Investors are watching for greater details on what specifically will attract tariffs as well as for the process for implementing them. Reports have indicated Trump was considering a 20% universal tariff.
The S&P 500 gained 37.90 points, or 0.67%, to end at 5,670.97 points, while the Nasdaq Composite gained 151.16 points, or 0.87%, to 17,601.05. The Dow Jones Industrial Average rose 235.36 points, or 0.56%, to 42,225.32.
