Business

Dow jumps over 600 points to end wild week as investors shrug off China’s tariff retaliation

By
Taylor Herzlich
Published April 11, 2025
Updated April 11, 2025, 4:17 p.m. ET

US stocks jumped on Friday after the White House signaled optimism around a trade deal with China – which earlier in the morning struck back with a 125% tax on US goods – to end a wildly vo♎latile week on Wall Street.

The Dow Jones Industrial Average g𒐪ained 619 points, or 1.6%, after plummeting 1,014.79 the day b🧔efore. For the week, the blue-chip Dow climbed 5%, its biggest percentage gain since November 2023.

The index has been on a wild ride over the past week as markets struggle to absorb back-and-forth trade war news, plunging more than 4,000 points after President Trump revealed his so-called “reciprocal” tariffs last Wednesday, then recovering more than 1,500 points this week after he announced a 90-day pause on most of his harsher tariffs.

A trader works on the floor of the New York Stock Exchange
The Dow jumped more than 50o points, or 1.3% on Friday. AFP via Getty Images

The S&P 500 and Nasdaq jumped 1.8% and 2.1🎉%, respectively on Friday. The Nasdaq surged 7.3% for the week, its biggest gain since November 2022.

The stock indexes plunged Friday morning after China marked its third retaliatory effort against the US. Stoc💦ks recovered their losses by theꦺ afternoon, after the White House said Trump is “optimistic” that China will seek a deal with the US.

China’s move to hike tariffs on US imports came soon after Trump announced a 125% tax on the natioꦛn, blaming its “lack of respect.”

The White House later confirmed the total tariff on China was 145%, after stacking on top of earlier levies.

US President Donald Trump speaking at the White House South Portico during a meeting with autoracing officials, with his arms spread out.
President Trump has raised the tariffs on China to 145%, blaming the nation’s “lack of respect.” AFP via Getty Images

During a press conference on Friday, a spokesperson for China’s Ministry of Commerce said the Trump administration’s approach to tariffs was a “numbers game which has no practical🎐 significance on economics.”

“It’s becom𝔉e a joke,” the sജpokesperson continued in a dig at Trump.

However, China also o♎ffered a small glimmer of hope for investors fearful the trade war could reheat inflation, hinting it’s 🔯not looking to raise rates again in the future.

“If the US continues toᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚ impose tariffs on Chinese goods exported to the US, China will ignore it,” the country’s finance ministry said.