U.S. stock markets experienced a significant rally on Monday, driven by reports that President Donald Trump's planned tariffs, set to take effect on April 2, might be more targeted and less severe than previously anticipated. The Dow Jones Industrial Average surged nearly 500 points, while the S&P 500 and Nasdaq Composite also saw gains, reflecting investor optimism over the potential for a less aggressive trade policy. The anticipation of softer tariffs led to gains across global markets, with Wall Street's performance influencing a positive response in Asia-Pacific markets. The Nikkei 225 in Japan rose, as did the Hang Seng in Hong Kong, Australia's ASX 200, and South Korea's Kospi. Reports from The Wall Street Journal and Bloomberg suggested that the White House might narrow the scope of the tariffs, focusing on specific sectors rather than broad-based levies. Despite the market uplift, uncertainty remains as investors await further clarity on Trump's trade policy. The possibility of reciprocal tariffs on major trading partners continues to be a concern, although recent statements from Trump hint at potential flexibility in the application of these tariffs. Consumer confidence has been affected by the looming tariffs, and the Federal Reserve is monitoring the situation closely. Meanwhile, oil prices have seen fluctuations amid these developments.