European stocks surge in relief rally following Trump's 90-day tariff pause

Shares across the region gained Thursday after the S&P 500 had its best day since the global financial crisis

Stock price information displayed in the lobby of the Euronext NV stock exchange in Paris, France, on Wednesday, Dec. 14, 2022. Paris is close to claiming crown of Europe's biggest equity market from London as the differential between the markets has been gradually eroding since Britons voted to leave the European Union in 2016. Photographer: Nathan Laine/Bloomberg

European shares are making major gains on Thursday, following suit from Asian markets that have largely rebounded following US President Donald Trump's 90-day pause on "reciprocal" tariffs. 

The pan-continental STOXX 600 is up 5.3% and is currently on track for its biggest one-day gain since March 2020.