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Stocks soared Tuesday, erasing an early deficit, after the United States delayed some tariffs on Chinese goods.

The US Trade Representative announced a delay in new tariffs on several categories of Chinese-made consumer goods until December 15. Those goods include cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing.

The Dow was up more than 500 points, or 2%, in mid-morning trading following Monday’s nearly 400-point drop. The S&P 500 and Nasdaq both rose more than 2% as well.

Tech stocks were among the market’s biggest winners. Apple surged 5% while chipmakers Nvidia and Intel were up more than 3%.

Sneaker giant Nike rose 3% as well while toy makers Hasbro and Mattel soared 6% and 8% respectively. Best Buy soared more than 7%.

The news was announced shortly after China’s Ministry of Commerce said that vice premier Liu Heying spoke with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin about trade issues and will talk again in two weeks.

The apparent ceasefire in the trade war delighted investors and overshadowed earlier concerns that a spike in a key measure of inflation reported Tuesday morning could complicate matters for the Federal Reserve.

The Fed recently cut interest rates for the first time since 2008 and is expected to lower rates further due to a sluggish global economy that’s hurting as a result of the US-China trade war and weak demand in the UK and Europe.

The so-called core consumer price index, which excludes food and energy costs, rose more than forecast in July for the second straight month and has now increased 2.2% over the past year. That’s the biggest increase in six months.

The Fed typically raises rates when inflation is creeping higher, but the central bank has been criticized by President Trump for possibly hiking rates too aggressively in the past few years and being too slow to cut rates in 2019.

The return of market volatility in recent weeks is unnerving investors, especially those looking to save for retirement. That’s especially the case since stocks have been the only game in town for conservative investors.

Bond yields have continued to plunge. The benchmark US-10 Year Treasury is now hovering around 1.68%, not far from its lowest level in about three years, while the 30-Year Treasury is approaching an all-time low near 2.1%.

Yields in the UK are near zero as well while long-term rates in Japan and much of Europe are now in negative territory.