Global Markets Rally on Tariff Pauses and Versace Sale

European markets experienced significant gains following President Trump's announcement to pause new tariffs on most U.S. trade partners for 90 days, which led to a surge in stocks like the Stoxx Europe 600 and Germany's DAX. Trump raised tariffs on Chinese imports to 125%, triggering strong responses in global markets, notably boosting U.S. stock indices like the S&P 500 and Nasdaq 100. The EU announced a 90-day hold on its counter tariffs to allow for negotiations, aligning with Trump's decision for a temporary reprieve. The market rally included notable gains in individual stocks such as Computacenter and Barclays, despite some declines like Barry Callebaut. Additionally, luxury brand Versace's sale to Prada for $1.38 billion was highlighted, aiming to bolster Capri's strategic investments. Meanwhile, currency markets saw the euro and the pound rise against the dollar, reflecting broader economic optimism.