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Global markets surged following President Trump's temporary suspension of increased global tariffs. European and Asian stock markets saw significant gains, with the Nikkei up 9.1% and the Kospi up 6.6%. However, tariffs on Chinese goods were increased to 125%, excluding China from the tariff pause. While some European leaders expressed relief, others noted concerns about unpredictability. China remains prepared for continued trade conflict, while other Asian nations welcome the 90-day reprieve for negotiations. The volatility index, a measure of market fear, decreased significantly.

Prepared by Christopher Adams and reviewed by editorial team.