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From CNN, I'm Afamadiki, with the five things you need to know for Wednesday, April 9.

U.S. stocks posted their best day in more than 16 years after President Donald Trump

posted on social media that reciprocal tariffs that went into effect at midnight are now on hold

for 90 days on all nations except China. All three major U.S. indexes shot up, with the Dow skyrocketing to 2,963 points, or 7.87%.

According to data from FACC said, nearly every single company in the S&P 500 rose, Goldman Sachs

economists are still predicting a 45% chance of a recession over the next 12 months,

though that's down from 65% they were seeing before the pause.

Today, Trump raised tariffs on China from 104% to 125% for missing yesterday's deadline

he set to drop 34% retaliatory tariffs on U.S. goods.

Here's what the president said to reporters during an event at the White House earlier today.

Look, nothing's over yet, but we have a tremendous amount of spirit from other countries, including China.

China wants to make a deal. They just don't know how quite to go about it. You know, it's one of those things they don't know how quite. They're proud people.

However, Beijing today announced new retaliatory tariffs of 84% on U.S. goods, set to take effect tomorrow.

Federal judges in New York and Texas have issued orders to temporarily stop Venezuelan plaintiffs

from being deported.

The rulings come in emergency lawsuits filed by the American Civil Liberties Union.

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