Stock markets in Canada and U.S. soar after Trump pauses some tariffs

Canadian Press

Published Apr 09, 2025 • Last updated Apr 09, 2025 • 1 minute read

The Bay Street financial district of Toronto is shown on Sunday Set. 8, 2024. Photo by Doug Ives /The Canadian Press

Stock markets in Canada and the U.S. shot up after U.S. President Donald Trump paused his “reciprocal” tariffs on most nations for 90 days, though he further raised his tax rate on Chinese imports.

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The S&P/TSX composite index closed up 1,220.13 points at 23,727.03.

In New York, the Dow Jones industrial average was up 2,962.86 points at 40,608.45. The S&P 500 index was up 474.13 points at 5,456.90, while the Nasdaq composite was up 1,857.06 points at 17,124.97.

The Canadian dollar traded for 70.67 cents US compared with 70.44 cents US on Tuesday.

The May crude oil contract was up US$2.77 at US$62.35 per barrel and the May natural gas contract was up 35 cents US at US$3.82 per mmBTU.

The June gold contract was up US$89.20 at US$3,079.40 an ounce and the May copper contract was up five cents US at US$4.19 a pound.

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