President Donald Trump said "more great days coming" after his pausing of tariffs sent the stock market soaring.
Trump on Wednesday announced a 90-day pause on many of his new tariffs in a shock reversal.
The move sent Wall Street's "Magnificent Seven" stocks tacking on more than $1.5 trillion in market value overnight and the S&P 500 and Nasdaq Composite Index clocked their biggest daily percentage gains in more than a decade.
"What a day, but more great days coming!!!" Trump wrote on Truth Social shortly after midnight.”
The "Magnificent Seven" stocks were poised to gain more than $1 trillion in market value Wednesday.
Shares of the megacap companies, which include AI chip giant Nvidia, Apple, Tesla, Amazon, and Microsoft, were up between 7.8% and 13%, powering a market rally that pushed the Nasdaq up 8%.
Trump said he authorized a pause on new tariffs for many countries, even as he escalated tariffs on imports from China, raising the rate on the world’s second-largest economy to 125%, effective immediately.
Reuters contributed to this story.