Yahoo Finance

We are interrupting programming with the Yahoo! Finance market alert. We see U.S. stocks soaring to session highs as President Trump announces a 90-day pause on tariffs, excluding China. That is saying in a post here that China tariffs are going to 125%, but for the other countries, tariffs will fall to 10%, at least for the next 90 days. He says there is a pause in the tariff back and forth. So, if you look at what's going on in stocks right now, and the soaring that we are seeing here, huge spike in stocks with the Dow now up about 2,100 points, a gain of almost 6%, the S&P 500 up by 6.7% here, and the NASDAQ Composite really leading here, up by 8.5%. We had already seen large cap tech stocks outperforming during the session, but obviously now we are seeing an enormous extension of those gains. One of the underperformers has consistently been the Russell 2000, but it, too, is getting a big lift today of 6.4%. And looking at some of the other asset classes, one could argue that really what forced the president's hand, although Treasury Secretary Scott Benson has reportedly said that it wasn't a reaction to the market volatility we've seen, this change on the part of the president, but if it was anywhere, it was perhaps in the bond market, where we had seen a huge increase in yields in recent days after a big pull come down and pull down in yields. We had seen a sharp reversal in the past few sessions and really a historic increase, multi-day increase in bond yields. So that perhaps was the straw that broke the camel's back in terms of the president reversing his decision on these retaliatory tariffs. Elsewhere, we see the dollar index pulling back to some extent, although a little bit up off the lows of the session here. Checking on Bitcoin, we've got it rebounding here. That's the 5-day. So, let's look at today, up 6%, seeing a very similar move here across asset classes. Earlier today, we saw gold seeing the biggest intraday move that we have seen for the metal, uh, really going back to 2020. Today, we still see it gaining up about 3%, up off its highs a little bit. So it's interesting that gold is still catching a bid even after this change that we saw. And then looking elsewhere in the markets here, I mentioned what's going on with large cap tech. Want to get back to that as well. Huge gains for the likes of Apple here, even though that 125% tariff is still in place on China, which is the biggest source of Apple iPhones. There has been some reporting this week that Apple might be shifting a large part of its production, as much as it can, to India, which now, after today, will only have a 10% tariff versus the 25% or so that was planned. So, Apple shares soaring today up by nearly 12%. NVIDIA, too, there was some reporting earlier today that the administration had pulled back some of the export controls it was considering on chips that NVIDIA makes that go into China. Those shares up by 13%. You can see on the NASDAQ 100, there's only one stock in the red, and it's a Chinese company, PDD. So really interesting action that we are seeing today. Of course, we are going to continue to follow this closely on Yahoo! Finance, and that's it for this Yahoo! Finance market alert.