Already on Thursday, stocks were giving back a chunk of Wednesday's historic gain. Goldman Sachs says the tariff pause likely won't stem further declines.

Goldman Sachs reversed its prediction that the United States will enter a recession following President Donald Trump‘s decision to pause reciprocal tariffs on dozens of countries for 90 days. “Earlier today,

Key Takeaways Forecasters at Goldman Sachs lowered their odds for a recession in the year ahead to 45%, unwinding an increase to 65% earlier in the day.The economists pulled back on their recession predictions after President Donald Trump paused some of the "Liberation Day" tariffs he announced last week.

Wall Street surged after U.S. President Donald Trump announced a 90-day pause in tariffs unveiled last week that roiled markets and erased trillions of dollars from global stock markets.

Donald Trump says he is open to talks with Chinese President Xi Jinping after he hit China with an even higher tariff rate of 125% The US president has also announced a 90-day pause on the implementation of higher tariffs,

President Donald Trump said Wednesday he will pause reciprocal tariffs for 90 days to more than 75 U.S. trading partners except for China, whose tariff rate he said will increase to 125%, effective immediately.

Trump announced a 90-day pause on reciprocal tariffs for some countries while raising tariffs on China to 125%. Follow along for live updates on the Dow, S&P 500 and Nasdaq.

In the end, Donald Trump both blinked and doubled down on tariffs. As the U.S. president announced a 90-day pause on “reciprocal” levies for most major trading partners on Wednesday, he also raised those on China from 104% to 125%.

Stock markets jumped and Treasury yields eased after President Trump’s announcement of a 90-day pause on higher-targeted tariffs for most countries, even as he doubled down on China.