U.S. stocks surged Monday after the U.S. and China agreed to a 90-day pause on tariffs, easing trade war fears.

The S&P 500 jumped 3.3%, the Dow gained over 1,100 points, and the Nasdaq rose 4.3%, with Big Tech stocks like Nvidia, Amazon, Apple, and Tesla leading the rally.

The U.S. will slash tariffs on Chinese goods from 145% to 30%, while China will cut its tariffs on U.S. goods from 125% to 10%, Yahoo Finance has reported.

President Trump also signed an executive order to lower U.S. drug prices. Oil, the dollar, and Treasury yields climbed ahead of key inflation data releases this week.

Written by B.C. Begley