Stock market soars as President Trump announces 90-day tariff pause

When it comes to the stock market, Jim Lacamp has seen it all. 

As a financial advisor and senior vice president of investments for Morgan Stanley, he’s been through many highs and lows, but what happened Wednesday even raised his eyebrows.

“So, we gained almost 4,000 points in three hours, which is very, very rare,” said Lacamp.

One of the best days

Wednesday proved to be one of Wall Street’s best days in history after President Trump said he would place a 90-day pause on his “reciprocal tariffs.” 

The Dow surged 7.9%, the S&P 500 climbed 9.5%, and the Nasdaq jumped 12.2%.

“The lion’s share of the move happened within 20 minutes of the announcement on the tariffs,” said Lacamp to CBS News Texas.

State of Volatility

Lacamp admits the stock market is now in a state of volatility. 

“It’s not unprecedented, but it’s very unusual. We’ve seen a lot of big moves in the past,” said Lacamp. “What’s really going on is a massive amount of uncertainty tied to a stock market that was at an all-time high. When you have that much uncertainty, it can cause too much volatility in the stock market. So, for most people, don’t worry about it so much and use that volatility to your advantage.”

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“I think now’s a good time to take a deep breath and say, okay, ‘what do I want to do from here?'” said Lacamp. “And for those trying to build wealth, they’re still going to be better off riding through the volatility that the stock market always brings. Sometimes we forget that it brings in a lot of wealth. People forgot because we had a couple of really good years in the market. But it always happens.”

Time of uncertainty

Lastly, though the nation is in a time of uncertainty, Lacamp says you can be certain about the stock market’s history.

“So, this too shall pass. The stock market in the United States has been a great place to invest for over 200 years, and this is not going to change. This is all very, very short-term, ephemeral in nature,” he said.