The temporary relief from the fluctuations in Trump's tariffs was quickly overshadowed by uncertainty. Despite a slight easing of global trade tensions, the future remains unclear for consumers, businesses, and investors even after Trump's unexpected announcement on Truth Social.

Following the tariff news, the S&P 500 dropped 3.5%, the Nasdaq 4.3%, and the Dow 2.5%. Energy saw the most significant decline among all 10 sectors in the S&P 500 with a 6.4% slide. Meanwhile, the euro surged to a near two-year high, surpassing $1.1241, and the Swiss franc experienced a 4% boost to a 10-year high. Gold prices spiked by 3% to a new high of $3,176 per ounce.

While short-end U.S. Treasury yields decreased substantially, the long end witnessed a sell-off. The yield on 30-year Treasuries spiked, indicating the biggest weekly rise since 1982. Oil prices also slid nearly 4%, and the Asian markets, particularly Japanese stock futures, showed a significant decline. Bitcoin's value dropped by 4%. Despite the offshore yuan strengthening, pressures on the Chinese currency continue.

The halt in tariffs triggered a market retreat and a surge in demand for safe-haven assets like gold and the Swiss franc. The repercussions of Trump's tariffs are expected to have a severe impact on the U.S. economy, with some predicting a potential recession. The trade war escalation between the U.S. and China remains a significant concern, with both countries maintaining high tariffs on each other's goods.

The market's response to the tariff situation reflected mixed reactions, with some assets plummeting while safe-haven options surged. The global economic landscape is clouded by uncertainties, particularly concerning China's economic resilience amidst the escalating trade tensions. The future movements in the market will likely be influenced by developments in the U.S.-China trade relations.