President Trump's unpredictable trade policies have pushed stock volatility up to its highest level in years, creating substantial uncertainty and, some say, opportunity on Wall Street.

Trump's decision was the latest is a series of market-wrenching moves that have taken place since the president announced a series of tariffs on April 2. Stock market declines and a sell-off in U.S. bonds sparked some fears that the U.S. might be headed for a recession.

Already on Thursday, stocks were giving back a chunk of Wednesday's historic gain. Goldman Sachs says the tariff pause likely won't stem declines.