S&P 500 reaches record high, gains rough 20% after plummeting over investor fears of Trump tariffs

U.S-based stock markets rallied to record highs last week, after plummeting in April when President Trump announced higher tariffs on trading partners.

The S&P 500 closed Friday at 6,173, surpassing its previous high of 6,144 in February.  

 The S&P 500, an index tracking the stock performance of 500 leading companies listed on U.S stock exchanges, has increased roughly 20% after Trump announced his "Liberation Day" tariffs on April 2. 

The index reached its new record high after gaining 32 points from Thursday. However, the large was not a particular one-day rally, considering, considering stock prices have increased by 5% in roughly the last month despite conflicts in the Middle East and trade tensions with China.

The S&P is not the only index on the rise. The NASDAQ also saw an increase last week with a record closing price of 20,273 on Friday.

The DOW Jones Industrial Average was up .3% as of Monday morning, according to the Associated Press.

Business Insider referenced a note from Paul Stanley, the chief investment officer of Granite Bay Wealth Management, where Stanley said, "While it's very encouraging to see stocks back near record highs, there are plenty of questions on the next catalyst needed to propel stocks further from here.  While valuations are high, it's important to be aware of any pullbacks and deploy new capital opportunistically, rather than chasing short-term gains."