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US stocks soar on Trump tariff reversal, oil prices jump

NEW YORK — Wall Street stocks rocketed higher Wednesday following President Trump's shock move to pause many new tariffs, lifting an equity market beaten down by days of losses amid rising recession worries.

The catalyst came around 1720 GMT when Trump announced a 90-day pause on the most onerous new tariffs for every country except China, which was targeted with a whopping 125 percent levy.

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