Facing a global market meltdown, President Donald Trump on Wednesday abruptly backed down on his tariffs on most nations for 90 days but raised his tax rate on Chinese imports to 125%.The S&P 500 was up 7.8% in afternoon trading.
S&P 500 soars 7% after Trump announces 90-day pause on tariffs, raises taxes on China
Facing a global market meltdown, President Donald Trump on Wednesday abruptly backed down on his tariffs on most nations for 90 days but raised his tax rate on Chinese imports to 125%.The S&P 500 was up 7.8% in afternoon trading.