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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%.View on euronews

NEW YORK (Reuters) -A sharp selloff in U.S. Treasuries this week has remained orderly despite continued uncertainty stemming from the U.S. administration's trade policies, said Dan Ivascyn, group chief investment officer at U.S. bond giant PIMCO on Wednesday. "You can't think of much worse of a scenario for ... direct lending to more economically sensitive borrowers than a stagflationary shock leading to a very high probability of recession in a world of disruption and significant global friction," Ivascyn said.

Shares of leading designer of graphics chips Nvidia (NASDAQ:NVDA) jumped 15.7% in the afternoon session after markets rallied sharply on news that President Trump announced a 90-day tariff pause. Reciprocal tariffs were also dropped to 10% for most countries, sparking renewed optimism amid ongoing trade talks. The major stock indices rose as investors, growing impatient of seemingly irrational tariff actions, welcomed the pause as a sign of a more measured path forward.

Shares of ride sharing service Lyft (NASDAQ: LYFT) jumped 5.6% in the afternoon session after markets rallied sharply on news that President Trump announced a 90-day tariff pause. Reciprocal tariffs were also dropped to 10% for most countries, sparking renewed optimism amid ongoing trade talks. The major stock indices rose as investors, growing impatient of seemingly irrational tariff actions, welcomed the pause as a sign of a more measured path forward.

It will be led by CEO Joseph Rallo, who, along with former business partner David Boral, had previously resurrected the brand in 2021. Rallo and Boral positioned EF Hutton at the center of Wall Street's special purpose acquisition company boom. One of EF Hutton's most famous deals was leading the IPO of Digital World Acquisition, the SPAC that went on to sign a $1.25 billion merger with Trump Media & Technology Group in 2021.

Shares of iPhone and iPad maker Apple (NASDAQ:AAPL) jumped 9% in the afternoon session after markets rallied sharply on news that President Trump announced a 90-day tariff pause. Reciprocal tariffs were also dropped to 10% for most countries, sparking renewed optimism amid ongoing trade talks. The major stock indices rose as investors, growing impatient of seemingly irrational tariff actions, welcomed the pause as a sign of a more measured path forward.

Shares of department store chain Macy’s (NYSE:M) jumped 17% in the afternoon session after markets rallied sharply on news that President Trump announced a 90-day tariff pause. Reciprocal tariffs were also dropped to 10% for most countries, sparking renewed optimism amid ongoing trade talks. The major stock indices rose as investors, growing impatient of seemingly irrational tariff actions, welcomed the pause as a sign of a more measured path forward.

Wall Street surged after U.S. President Donald Trump announced a 90-day pause in tariffs unveiled last week that roiled markets and erased trillions of dollars from global stock markets. The policy changes also include a lowered overall tariff of 10% during that 90-day period, and an increase in tariffs on Chinese imports to 125%, from the 104% that went into effect overnight. TREASURIES: U.S. Treasury benchmark yields pared gains after the tariff announcement, following a government auction of $39 billion 10-year notes that suggested good demand.

(Reuters) -The Federal Reserve’s decision to dramatically decelerate the pace of its balance sheet drawdown last month garnered broad support from policymakers, although there was more internal opposition to the shift than first understood, minutes from the central bank's latest meeting released on Wednesday showed. The decision to very nearly stop the drawdown of bonds owned by the Fed followed a presentation by a New York Fed official responsible for implementing monetary policy, the Federal Open Market Committee meeting minutes noted. That official laid out the case for slowing the runoff while there was uncertainty over how soon Congress would raise the federal debt ceiling.