The Dow rose 2,962.86 points, or 7.87%, to 40,608.45. The S&P 500 gained 474.13 points, or 9.52%, to 5,456.90, while the Nasdaq added 1,857.06 points, or 12.16%, to 17,124.97.
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%.
