Best Stock Rally Since 2008 Boosts Wall Street: Markets Wrap
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Donald Trump’s pledge to pause tariffs on some trading partners ignited the biggest burst of buying Wall Street has seen since 2008.
After narrowly avoiding a bear market, the S&P 500 staged a historic bounce from a selloff that wiped out trillions from global share prices amid the specter of a full-blown trade war that fueled fears of a US recession. The equity benchmark soared 9.5%, the most since the global financial crisis, while the Nasdaq 100 surged 12% as euphoria gripped markets after four days of bruising, high-volume trading. Nearly every stock in major gauges rose.