United States President Donald Trump said on Wednesday that he did not expect his decision to pause reciprocal tariffs on most countries for 90 days to have "such an impact" on the stock market.

Trump noted he had been thinking about halting the tariffs for "some time" but reached the final decision early this morning. He also stressed that the announcement was written "from the heart" with no lawyers present.

Following the US president's announcement, indexes on Wall Street rebounded from losses caused by Trump's tariffs announced on April 2, with the Dow Jones soaring over 3,000 points at a session high and the Nasdaq 100 skyrocketing 12%.