President Trump on Wednesday catapulted US stocks to one of their biggest one-day rallies in the past century with a single post on social media.

At 1:18 p.m. ET, Trump posted on his social media platform Truth Social there would be a 90-day pause on his steep "reciprocal" tariffs for non-retaliating countries.

"I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately," part of Trump's post read.

The market exploded higher in reaction .

When the closing bell rang on Wall Street, the benchmark S&P 500 ( ^GSPC ) had gained 9.5% on the day, while the tech-heavy Nasdaq Composite ( ^IXIC ) surged 12.1%.

The Dow Jones Industrial Average ( ^DJI ) rose 2,962 points, or 7.9%.

It was the S&P 500's best day since 2008, while Nasdaq enjoyed its second-largest one-day rally on record, topped only by a 14% gain back in 2001. For the Dow, Wednesday's rally marked its largest since 2008.

"Over the last few days it looked pretty glum, so I guess they say it was the biggest day in financial history," President Trump said on Wednesday from the White House lawn. "That's a pretty big change."

Piper Sandler chief investment strategist Michael Kantrowitz wrote in a note Wednesday afternoon the market finally got a "dose of relief."

"While uncertainty isn’t headed to zero, the worst-case scenario is off the table most likely," Kantrowitz wrote.

Investors snatched up stocks and saved the questions for later.

Big Tech stocks led the charge higher, with Nvidia ( NVDA ) shares soaring over 18%, while Tesla ( TSLA ) added 22%.

Apple ( AAPL ), Meta ( META ), and Amazon ( AMZN ) rose 15.3%, 14.8%, and 12%, respectively.

And while investors embraced Trump's announcement, the president did escalate his trade war with China, increasing tariffs on imports from China to 125%.

But even stocks that had traded lower in recent days on fears of China tariffs, like Apple, were higher on Wednesday. Shares of Chinese e-commerce giant Alibaba ( BABA ) rose more than 5%, while JD.Com ( JD ) rallied over 6%.

Wednesday's reversal came as market chaos continued to boil late Tuesday and into overnight trading.

The S&P 500 had swung roughly 6% or more peak-to-trough for three straight sessions through Tuesday, a phenomenon only seen in 1987, 2008, and 2020. The 10-year Treasury yield ( ^TNX ) jumped over 50 basis points over a three-day period , its most aggressive move since 2001.

"The Stock and Bond Vigilantes signal that the Trump administration may be playing with liquid nitro," Ed Yardeni, president of Yardeni Research, said in a research note published on Tuesday night. "Something may be about to blow up in the capital markets as a result of the stress created by the administration's trade war."