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,

Stocks surged early Monday following news that the U.S. and China had agreed to a 90-day pause in their ongoing trade conflict. As part of the deal, both nations will roll back most of the tariffs that economists had warned might trigger a recession and lead to product shortages in American stores.

Stocks soared Monday after the U.S. and China struck a trade deal over the weekend. What began as a festive campaign march quickly turned into a scene of terror in the Mexican state of Veracruz on Sunday night when a mayoral candidate was gunned down alongside three other people.