New York CNN —

Rinse, repeat.

Stocks rose Tuesday after President Donald Trump did a 180-degree turn on his threat to place a massive 50% tariff on goods imported from the European Union.

The Dow closed higher by 741 points, or 1.78%. The broader S&P 500 rose 2.05% and the tech-heavy Nasdaq Composite gained 2.47%. The S&P 500 snapped a four-day losing streak. The three major indexes each posted their biggest single-day gain in two weeks.

Investors cheered in their first day of trading since Trump on Sunday delayed EU tariffs until July 9. He had initially said they’d go into effect next week. US markets were closed for Memorial Day on Monday, so Tuesday is the first chance for Wall Street to react since the on-again, off-again tariffs went off, again.

If this feels familiar, tha

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