Donald Trump suspended tariffs for 90 days

On the evening of April 9, 2025, U.S. President Donald Trump announced a 90-day suspension of reciprocal tariffs. The decision triggered a sharp rise in stock markets.

U.S. President Donald Trump announced a 90-day suspension of reciprocal tariffs on Monday, April 9. The decision sparked a sharp rise in stock markets, with the Dow Jones index surging by almost 3000 points (7.87%) and the S&P 500 index adding 9.5%. Shares of companies such as Amazon, Nike, and Tesla reacted most actively to the positive news.

As Trump’s tariff threat had previously loomed over the market, impacting investor sentiment, the president’s statement on Twitter, where he also discussed the reduction of tariffs from most countries to a 10% rate, quickly went viral.

After Trump's tariff decision was announced, stocks began to surge. The Dow Jones index added almost 3000 points (7.87%), the S&P 500 index jumped by 9.5%, and the Nasdaq index increased by 12.2%.

As a result, April 9 was the best day for the S&P 500 index since October 2008, and for the Nasdaq since January 2001. Shares of companies such as Amazon, Nike, and Tesla reacted most actively to the positive news.

A comparison of the S&P 500 and Nasdaq's reaction to Trump's tariff decision on Apr 9. Source: TradingViewFollowing the stock market, crypto also moved into the green zone. Bitcoin rose in price by more than 12% in 24 hours on April 9. Following Bitcoin, the crypto market as a whole showed positive dynamics.

However, despite the positive reaction of the markets, not all issues have been resolved. In particular, the growth of tariffs for China remains a pressing issue, due to which there is still a high level of uncertainty for investors. On Thursday, Bitcoin began with a slight price correction, dipping below $80,000, but is now steadily climbing and currently trades at $82,427.

Senate confirms Paul Atkins to head the SECThe U.S. Senate has voted to confirm Paul Atkins' nomination as chairman of the Securities and Exchange Commission (SEC).

52 senators spoke in favor, 44 House members voted against, and four did not participate in the vote.

President Donald Trump nominated Atkins to head the SEC in December 2024. Many crypto industry participants see him as a suitable candidate, given his experience in the industry.

Atkins served as SEC commissioner from 2002 to 2008 and later founded the consulting firm Patomak Global Partners, whose clients included cryptocurrency exchanges and DeFi projects.

Atkins' nomination was approved by the Senate Banking Committee in late March. Before the hearing, journalists learned that the potential head of the regulator holds stakes in three cryptocurrency companies: Securitize, Anchorage Digital, and Off the Chain Capital.

During the discussion, some Democratic senators criticized Atkins for his ties to the collapsed FTX exchange. According to the media, Patomak Global Partners signed a consulting contract with the crypto platform in early 2022.

In November 2022, FTX filed for bankruptcy. The exchange's co-founder and CEO, Sam Bankman-Fried, was found guilty of seven felonies. He was sentenced to 25 years in prison.

Republican Senator Tim Scott expressed hope at the hearing that under Atkins, "the SEC will return to its core mission and ensure that our markets remain the envy of the world."

The previous head of the agency, Gary Gensler, retired on Jan. 20 and returned as a professor at MIT's Sloan School of Management.

Mark Uyeda became acting chairman of the agency in an interim capacity. Under his leadership, the SEC created a cryptocurrency task force headed by Hester Peirce. The commission halted investigations and litigation against a number of companies, including Ripple, and softened its stance on the regulation of digital assets and DeFi applications.

Virgil Griffith's ex-colleague announced his release

Ethereum researcher and developer Virgil Griffith has been released from prison, announced his former Ethereum Name Service (ENS) colleague Brantley Millegan.

"@brantley_mca is a legend. Still can't believe it. Virgil Griffith is out of prison!"

One of the good things to come out of 2024. May it continue.â¦"

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