Most tech stocks are surging today after a shocking announcement from China took the market by storm this morning. Even after several strong earnings reports over the past two weeks, many prominent companies have struggled as tariffs levied by President Donald Trump sparked retaliation from trade partners,

U.S. stocks are leaping Monday after China and the United States announced a 90-day truce in their trade war. They agreed to take down most of their tariffs that economists warned could start a recession and create shortages on U.

Stocks surged across the board Monday as the U.S. and China’s trade war de-escalated significantly, and the most valuable American companies largely slumping from the Beijing vs. Washington standoff roared back to life.