U.S. stocks staged a powerful rebound on Monday, surging on signs that recent trade tensions were easing as the Dow Jones Industrial Average notched its third biggest point-gain ever.

The Dow Industrials advanced 669.40 points, or 2.8%, to 24202.60, its largest one-day point gain since October 2008.

The buying accelerated toward the end of the trading day, sending other major indexes to their biggest gains in years, too. The Nasdaq Composite added 227.88 points, or 3.3%, to 7220.54 and the S&P 500 rose 70.29 points, or 2.7%, to 2658.55. Both these indexes and the Dow Industrials recorded their biggest percentage jumps since August 2015.

Shares of financial and technology companies within the S&P 500 were some of the biggest winners Monday after investors dumped them in prior sessions, though all sectors got a lift.

The reprieve for U.S. stocks comes after the worst week in more than two years. U.S. plans to hit China with tariffs on as much as $60 billion in imports and other restrictions—and the immediate threat of Chinese retaliation—rattled global markets. .