U.S. stocks are rallying Wednesday after President Donald Trump showed again that his latest word on tariffs won't always be his last. After pulling back on some of the tariffs he announced earlier this week,

The stock markets endured a turbulent day as Wall Street braced for the impacts of President Donald Trump’s tariffs on the U.S.’s largest trading partners. The president’s highly anticipated 25 percent trade tariffs on Mexico and Canada took effect Tuesday.

All three major U.S. markets sank before regaining lost ground on fears a trade war will hobble the world’s largest economy and boost inflation.