Why did US markets fire like a rocket after pause at Trump’s rates

The US markets collapsed like a rocket on Wednesday after US President Donald Trump has issued a 90-day pause on the application of higher tariffs, which means there will be a tax for “universal 10%” to most countries.

But the US President hit China with even higher tariffs than 125% due to “their insistence on escalation,” according to the Trump administration.

The S&P 500 Index jumped 9.5% in the largest one-day rally since 2008, the following days of tariffs caused by tariffs.

BBC business correspondent in North America Michel Flary explains changes in the US market on Wednesday from Wall Street.