U.S. stocks surged on April 23, as President Donald Trump clarified his stance on Federal Reserve Chair Jerome Powell and China tariffs.
The Dow Jones Industrial Average, an index of blue-chip stocks, advanced by more than 900 points, or more than 2 percent.
The broader S&P 500 Index jumped more than 100 points, or 2.5 percent. The tech-heavy Nasdaq Composite Index soared by close to 600 points, or 3.6 percent.
Following the weeks-long tariff-driven decline in the financial markets, Wall Street is looking to build on its April 22 gains after all three leading benchmark averages climbed nearly 3 percent.
Despite Trump’s recent criticisms of the central bank chief, the president confirmed to reporters at the Oval Office on April 22 that he has “no intention” of firing Powell before his term expires in May 2026….