Stocks popped Monday after the United States and China agreed to dramatically lower tariffs for 90 days, with American brands in trade-sensitive retail and technology sectors soaring at the prospect of easing tensions between the world’s two largest economies.

• China trade war: The US and China have agreed to drastically roll back tariffs on each other’s goods for an initial 90-day period, according to a joint statement from the two countries. The announcement comes after a weekend of marathon trade negotiations by officials from the world’s two largest economies.