US stocks surged to close near the highs of the session on Monday after a US-China deal to temporarily slash reciprocal tariffs offered relief to markets worried about a trade war. Wall Street notched a banner day after the US and China put tariffs on pause for 90 days,

U.S. stocks soared Monday after Washington and Beijing struck a surprise deal to dramatically cut tariffs, marking a rare moment of clarity and good news in an otherwise volatile environment.

Wall Street soared on Monday, after a surprise trade truce between U.S. and China gave a massive boost to sentiment. Market participants piled into risky equities and shunned bonds, sending U.S. Treasury yields lower.