Stock futures surged Monday morning after the U.S. and China agreed to slash tariffs on one another for 90 days while the two sides work toward a broader trade agreement.

U.S. stock futures surged in early trade on Monday after the U.S. and China announced that they have agreed to pause most tariffs for the next 90 days while further trade talks take place. Futures linked to the Dow Jones Industrial Average gained over 1,

Global markets have been volatile since late February, when the White House started imposing tariffs on dozens of countries. All three indexes fell deep into correction territory before recovering; as of Friday’s close,