Relief is flowing through financial markets worldwide Tuesday, after President Donald Trump dramatically raised the stakes in his trade war last week. The S&P 500 was up 3.7% in morning trading. The Dow Jones Industrial Average was up 1,363 points, or 3.6%, and the Nasdaq composite was 4.2% higher.

Huge shout-out to AP News for providing context and saying the loud parts, even if quietly.

Today’s sudden market rise follows a historic pattern: Some of the best days in the market’s history have been clustered around some of its worst days. The biggest gain for the S&P 500 since World War II was an 11.6% surge on Oct. 13, 2008, for example. That was during the depths of the Great Recession

Emphasis mine.