India, May 27 -- Stocks have moved sharply higher during trading on Tuesday, regaining ground following the steep drop seen last week. The major averages have also shown significant moves to the upside, with the tech-heavy Nasdaq leading the charge.
Currently, the major averages are just off their highs of the session. The Nasdaq is up 368.74 points or 2.0 percent at 19,105.95, the S&P 500 is up 92.22 points or 1.6 percent at 5,895.04 and the Dow is up 532.33 points or 1.3 percent at 42,135.40.
The rally on Wall Street comes after President Donald Trump announced he is delaying a threatened 50 percent tariff on imports from the European Union.
"I received a call today from Ursula von der Leyen, President of the European Commission, reque...