Stocks Plunge on Wall Street as China Faces 145% Tariff Imposition
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Asian shares surged in early morning trading following the announcement by Donald Trump that he would pause imposing tariffs for 90 days, resulting in a positive market reaction. Wall Street experienced historic gains on Wednesday night, with the Dow Jones Industrial Average rising 7.9%, the S&P 500 climbing 9.5%, and the Nasdaq Composite jumping 12.2%. In Asia, Japan's Nikkei 225 soared 8.3%, Australia's S&P/ASX 200 climbed 4.7%, South Korea's Kospi gained 5.5%, Hong Kong's Hang Seng added 3.7%, and Shanghai Composite edged up 1.5%. This positive trend follows Mr. Trump's decision to backtrack on most of his tariffs, leading to an optimistic start for the day in global markets.

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