Stocks skyrocket after Trump pauses most tariffs

The stock market responded positively to President Trump’s decision to pause  tariffs on most nations. Hours after sweeping reciprocal tariffs went into effect, the president announced a 90 day pause for countries that did not retaliate. But he raised the tax rate on Chinese imports to 125 percent. Investors cheered the news, pushing stocks sharply higher. The Dow gained nearly 8 percent. The S&P 500 was up almost 10 percent. And the Nasdaq rose by more than 12 percent.