The S&P 500 soared 9.5% on Wednesday for its biggest daily gain since 2008 after U.S. President Donald Trump declared an immediate 90-day tariff pause for many countries, bringing some relief to investors worried about the global economic impact of U.

Investors are wary of further downside in the stock market ahead of President Trump's reciprocal tariff deadline on April 2.

The US threatened Mexico with sanctions and tariffs over a water dispute, accusing the latter of violating an 81-year-old treaty between the countries.