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U.S. stocks soared Tuesday after President Donald Trump agreed to delay a proposed 50% tariff on European Union imports.\u00a0<\/p>\n
This pause eased investor concerns over an escalating trade war and paved the way for accelerated negotiations.<\/p>\n
The Dow Jones Industrial Average rose nearly 740 points while the S&P 500 climbed 2.05%. The tech-heavy Nasdaq Composite jumped 2.46%, with shares of Nvidia, Tesla, and Apple posting strong gains.<\/p>\n
Markets reopened following the Memorial Day holiday to a flurry of positive signals. U.S. President Donald Trump said over the weekend that the tariff hike, initially set for June 1, would be pushed back<\/a> to July 9 following talks with European Commission President Ursula von der Leyen.\u00a0<\/p>\n The European Union, in turn, agreed to expedite trade discussions in hopes of averting the \u201cmutual pain of tariffs,\u201d according<\/a> to EU trade chief Maro\u0161 \u0160ef\u010dovi\u010d.<\/p>\n <\/p>\n Investor sentiment was further buoyed by a rebound in consumer confidence, which rose<\/a> in May after five months of declines. Tuesday\u2019s broad market rally saw more than 90% of S&P 500 components close higher. Small-cap stocks also gained, with the Russell 2000 up more than 2%.<\/p>\n The optimism extended to the bond market, where U.S. Treasurys rallied and yields fell<\/a>. The 10-year yield slipped to 4.43%, while the 30-year yield dropped to 4.94%. The dollar strengthened, and global bond markets responded positively to speculation that Japan will scale back long-term bond issuance after recent volatility.<\/p>\nConsumer confidence rebound<\/h2>\n