AsianFin -- U.S. stock index futures rallied early Monday after Washington and Beijing announced a breakthrough agreement to slash tariffs, easing fears of a prolonged trade war that had rattled global markets.

Following talks with Chinese officials in Geneva, U.S. Treasury Secretary Scott Bessent said both countries had agreed to a 90-day pause on new trade measures and would cut reciprocal tariffs by more than 100 percentage points to 10%.

“This marks a pivotal moment in global trade dynamics,” said Aaron Hill, chief analyst at FP Markets. “However, the 90-day window signals that these cuts are likely part of a broader negotiation strategy rather than a final resolution, keeping long-term policy direction uncertain.”

As of 04:08 a.m. ET, Dow E-minis rose 822 points, or 1.99%, S&P 500 E-minis climbed 141.75 points, or 2.5%, and Nasdaq 100 E-minis advanced 666.25 points, or 3.31%.