NEW YORK: The S&P 500 soared 9.5% on Wednesday for its biggest daily gain since 2008 after US President Donald Trump declared an immediate 90-day tariff pause for many countries, bringing some relief to investors worried about the global economic impact of US trade policies.
The rally, which followed Wall Street's biggest four-day percentage loss since the pandemic, was triggered by an afternoon announcement that Trump would temporarily lower many new tariffs, while he raised the levy on Chinese imports to 125%.
