Stocks rallied to start the holiday-shortened week after President Donald Trump’s threat of 50% tariffs on Europe starting in June didn’t even last the long weekend.

The Dow Jones Industrial Average was up 400 points, or 1%. The S&P 500 was up 1.2%. The Nasdaq Composite gained 1.5%. All 30 stocks in the Dow were rising, while more than 450 S&P 500 stocks were on track to close higher. The Russell 2000 was up 1%.

The yield on the 10-year Treasury note was down to 4.47%. The 30-year yield was down to 4.98%.