US stocks soared Tuesday after the biggest three-day rout in five years, fueled by the most oversold conditions since the depths of the pandemic and optimism the Trump administration will water down its harsh tariff regime.
The S&P 500 Index jumped 3.34% as of 9:31 a.m. in New York, heading for its best day since November 2022. The cash index shed more than $5 trillion in three days, with Monday’s lows taking it more than 20% from its latest record. Rumors of a possible tariff delay sparked a massive rebound before the index found support at 5,000. Treasuries also reversed a rally, with the 10-year yield pushing back above 4%.
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