Where things stand in markets since Liberation Day • The Dow posted its largest point gain ever on Wednesday, up 2962.86 points. The 7.9% rise was the largest since March 24, 2020. • The S&P 500 snapped a four-day losing streak, rising by a record 474.13 points, or 9.52%. This was the largest percentage gain since October 28, 2008. • Stocks are still 3.8% below where they were after the Liberation Day tariff announcements. • The yield on the 10-year Treasury note rose 0.15 percentage points to 4.41% and is higher than it was before the Liberation Day announcements. Yields are up 0.418 pp over the last three days, the largest three-day yield gain since June 14, 2022.