On Apr. 8, 2025, the S&P 500 index jumped by more than 9.5%, after President Donald Trump announced that he was partially suspending new U.S. tariffs on most other countries for 90 days.
It was the biggest one-day gain in the index in at least 15 years. The table below shows some of the runners-up for that record.
Top 7 one-day S&P 500 gains in the last 15 years
Source: Investing.com. Data is current as of Apr. 16, 2025, and is intended for informational purposes only.
Two of the largest rallies in this period were temporary reprieves from a large-scale selloff — specifically, the stock market crash at the beginning of the COVID-19 pandemic, which saw the S&P 500 fall more than 30% between mid-February 2020 and late March 2020.
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That COVID-19 crash also accounts for several of the largest one-day drops in the S&P 500 over the last 15 years. President Trump’s global tariffs caused one, as well.
Top 7 one-day S&P 500 losses in the last 15 years
Source: Investing.com. Data is current as of Apr. 16, 2025, and is intended for informational purposes only.
It’s too early to say whether we’re out of the woods yet with tariff-related volatility. Recent positive swings in the S&P 500 could mark the beginning of a recovery from the tariff correction, or they could be brief interruptions amidst a larger crash.
Regardless, certain types of investments may be more tariff-resilient than others.