How The Stock Market Made Back All Its Losses After Trump Escalated The Trade War

It felt much longer, but the U.S. stock market needed just a few weeks to roar all the way back to where it was on President Donald Trump's "Liberation Day." That's when he shocked Wall Street by announcing much steeper tariffs than expected on nearly all U.S. trading partners.

Those tariffs unveiled on April 2 were so severe that they raised fears Trump did not worry about causing a recession in his attempt to reshape the global economy. Within just four days, the SP 500 fell about 12 , and the Dow Jones Industrial Average lost nearly 4,600 points, or about 11.

This past Friday, though, the SP 500 rallied 1.5 for a ninth straight gain and pulled back to where it was on April 2.

Of course, the index at the heart of many 401k accounts is still more than 7 below its all-time high set earlier this year. And stocks could easily fall again as uncertainty remains high about what Trump's tariffs will ultimately do to the economy. But the run for U.S. stocks back upward has been just as wild and unexpected as its fall. Here's a look at what happened:

The pause