Stock market today: S&P 500, Nasdaq, Dow rally after Trump pauses Canada, Mexico auto tariffs

US stocks rallied on Wednesday as President Trump provided
a one-month auto tariff exemption on Mexico and Canada.

After sliding earlier in the session, the tech-heavy Nasdaq Composite (
^IXIC
) led the gains, rising more than 1.4%. Meanwhile, the Dow Jones Industrial Average (
^DJI
) and the S&P 500 (
^GSPC
) rose roughly 1.1%.

Stocks lifted higher after the White House delayed by one month auto
tariffs
that could significantly impact US automakers Ford (
F
), GM (
GM
), and Stellantis (
STLA
). Shares of all three automakers were at least 5% higher.

The move Tuesday came after nearly 24 hours of the administration signaling of some potential relief on tariffs after Trump imposed
25% across-the-board duties on Canada and Mexico
on Tuesday.

A wave of selling hit stocks in recent days as investors fretted over potential harm to the economy from Trump’s escalating trade war. The S&P 500 hit its lowest level in four months on Tuesday, erasing all of its post-election gains.

Meanwhile, a fresh look at the jobs market Wednesday
provided another sign of potential cracks in the economy
. Data from ADP showed that private-sector companies added just 77,000 jobs in February, a significant slump from January and also far below economist expectations. The ADP print is one in a series of jobs readings that tee up Friday’s all-important nonfarm-payrolls report.

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