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Bill Gross said investors should reconsider owning "highly volatile" US stocks when their value depends on the whims of President Donald Trump .

"My portfolio of defensive stocks is green so I don't begrudge today's market," Gross, cofounder of bond giant Pimco, wrote on X on Wednesday night.

"But I ask you, would you want to own highly volatile US stocks whose price depends on whether POTUS had a good night's sleep and woke up the next morning to reverse yesterday's policies?"

The post came after Trump announced a 90-day pause in his aggressive tariff plan against some countries on Wednesday night.

The decision sent stock markets skyrocketing . The S&P 500 had its biggest single-day gain since 2008 at 9%, while the Dow rose nearly 3,000 points and the Nasdaq surged 12%.

A number of top Wall Street and political minds have commented, with Pershing Square CEO Bill Ackman calling it the "art of the deal" in a post on X, while Germany's chancellor-in-waiting Friedrich Merz called the move a "response to the determination of the Europeans."

On Tuesday, Gross also said market turmoil would disproportionately affect Gen Z investors.

"This market 'crash' will affect millennial and Gen Z investors for long to come," he wrote on X. "What before was a can't miss way to make money will induce caution and more conservative attitudes, resulting in lower P/E ratios, higher yields, and low single-digit returns."

Read the original article on Business Insider