US stocks surged to close near the highs of the session on Monday after a US-China deal to temporarily slash reciprocal tariffs offered relief to markets worried about a trade war. Wall Street notched a banner day after the US and China put tariffs on pause for 90 days,

U.S. stocks soared Monday after Washington and Beijing struck a surprise deal to dramatically cut tariffs, marking a rare moment of clarity and good news in an otherwise volatile environment.

Global shares rally, while gold and safe-haven currencies slump against a resurgent dollar as the US and China agreed to temporarily slash harsh reciprocal tariffs and cooperate to avoid rupturing the global economy.

The S&P 500 climbed by 2.8% on Monday, May 12, 2025 as investors reviewed the trade deal between the U.S. and China that significantly reduces tariffs for 90 days as negotiations continue.

with the blue-chip Dow surging more than 1,000 points, after the U.S. announced a trade deal with China. The U.S. and China put a 90-day pause on most of the tariffs the countries had imposed on ...