Mumbai, April 10 -- The Nasdaq soared 1,857.06 (12.2%) to 17,124.97, the S&P 500 spiked by 474.13 points (9.5%) to 5,456.90 and the Dow surged 2,962.86 points (7.9%) to 40,608.45.

Stocks showed a lack of direction early in the day but skyrocketed after President Donald Trump announced a 90-day pause on new "reciprocal tariffs" on most countries to allow for negotiations. White House press secretary Karoline Leavitt told reporters that tariffs would be brought down to a "universal 10%" level during the 90-day pause. However, the pause will not apply to China, as Trump announced he is raising the tariff on the country to 125% due to the "lack of respect" they have shown to the world's markets. The higher tariffs on China come after the cou...