Stocks jump higher as White House delays tariffs on key Chinese imports

US stocks jumped higher on Tuesday as fears of a drawn out global trade war eased, after the White House said tariffs on key Chinese imports would be delayed.

Stocks originally turned positive on a report that China's commerce secretary agrees to conduct a phone call in two weeks with U.S. trade representatives, according to Reuters.

Stocks then took off as as part of USTR’s public comment and hearing process, it was determined that the tariff should be delayed to December 15 for certain articles.

Products in this group include, for example, cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing.

Stocks fell in the last session to start the week as a wave of selling that analysts attributed to mounting doubts about a trade deal pulled lower shares of everything from banks to technology companies.