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Indexes up: Dow 6.13%, S&P 500 6.72%, Nasdaq 8.22%

(Updates with late-afternoon prices)

By Shashwat Chauhan and Purvi Agarwal

April 9 (Reuters) -

Wall Street's main indexes jumped on Wednesday after U.S.

President Donald Trump authorized a 90-day pause on tariffs,

effective immediately.

Trump declared

a 90-day pause

on reciprocal and 10% tariffs that he had unveiled

initially last week, while raising duties on China to 125.

China on Wednesday imposed additional levies of 84% on

all U.S. goods from April 10, up from the 34% previously

announced, after U.S. levies of 104% on its imports went into

effect.

Meanwhile, the U.S. Treasury's $39-billion 10-year note

auction came in within market expectations, priced

at a high yield of 4.435%, lower than the rate forecast at the

bid deadline, suggesting solid investor demand.

The yield on the 10-year note was last at 4.370% amid a

sell-off in the bond market, where tariff-driven turmoil

prompted investors to dump safe-haven U.S. Treasuries for a dash

of cash, pushing yields higher.

Rate-sensitive real estate and utilities

- often seen as a bond proxy owing to their steady

income regardless of the economic situation - cut losses and

were last up 5% and 3.2% respectively.

Large technology stocks still led gains, with Apple ( AAPL )

rising 10% and Nvidia ( NVDA ) up 13%.

"The reflex to buy the dip is very strong and certainly the

wipeout you've seen in tech stocks makes them cheap relative to

where they were," said Chris Beauchamp, chief strategist at IG.

At 01:32 p.m. the Dow Jones Industrial Average rose

2,305.81 points, or 6.13%, to 39,959.81, the S&P 500

gained 334.86 points, or 6.72%, to 5,317.63 and the Nasdaq

Composite gained 1,254.95 points, or 8.22%, to

16,522.86.

The upcoming earnings season will offer more insights into

the health of corporate America as investors fear a hit to

economic growth from the tariffs. U.S. banks, including JPMorgan

Chase ( JPM ), will report first-quarter results on Friday.

All major sub-sectors on the S&P 500 were higher, with

information technology and consumer discretionary in the lead,

up 11% and 8.5% respectively.

The CBOE Volatility index - seen as Wall Street's

'fear gauge' - was last at 36.78 points.

Minutes from the Fed's March policy meeting are due later in

the day, while a consumer price inflation reading is set for

Thursday, which could offer clues on the inflation trajectory.

Delta Air Lines ( DAL ) gained 17% as the carrier beat

first-quarter profit expectations. The company though pulled its

2025 financial forecast and projected current-quarter profit

below expectations.

Advancing issues outnumbered decliners by a 3.04-to-1

ratio on the NYSE and by a 2.97-to-1 ratio on the Nasdaq.

The S&P 500 posted one new 52-week high and 100 new lows

while the Nasdaq Composite recorded 6 new highs and 637 new

lows.