European markets experienced a historic rally following US President Trump's announcement of a 90-day pause on tariffs for non-retaliating countries, excluding China. The Euro Stoxx 50 surged 8.2%, marking its strongest session since March 2020. National indices across Europe also saw significant gains, with Germany’s DAX up 8.5% and Italy’s FTSE MIB climbing 8.4%. Analysts noted the chaotic nature of the current trade situation, while European Commission President Ursula von der Leyen emphasized the importance of stabilizing the global economy.