Trump pauses tariffs, sending stocks soaring

U.S. stocks soared to one of their best days in history on a euphoric Wall Street after President Donald Trump said he would back off on most of his tariffs temporarily. The S&P 500 soared 9.5% Wednesday, though it's still below where it was when Trump announced his sweeping set of tariffs last week. The Dow Jones Industrial Average flew nearly 3,000 points higher, and the Nasdaq composite jumped 12.2%. Trump, though, did raise tariffs further on China, which keeps the possibility of further swings ahead for markets. Treasury yields gave back some of their big market-rattling gains following Trump’s pause on most tariffs.