Manila, April 10 -- US stocks skyrocketed on Wednesday after President Donald Trump announced a pause on certain "reciprocal" tariffs, triggering a powerful rebound in a market that had been under intense pressure over the past week.

The Dow Jones Industrial Average jumped 2,962.86 points, or 7.87 percent, closing at 40,608.45.

The S&P 500 surged 474.13 points, or 9.52 percent, to 5,456.90 - its largest single-day gain since 2008, while the Nasdaq Composite Index rallied 1,857.06 points, or 12.16 percent, to finish at 17,124.97. It was the Nasdaq's most significant one-day advance since January 2001 and its second-largest ever.

All 11 major sectors in the S&P 500 ended higher. Technology and consumer discretionary sectors led the way, ...