Among the strongest performers, Thermo Fisher Scientific rose 12%, topping the leaderboard for large-cap stocks, followed by T-Mobile US, up 9%.

The Dow Jones Industrial Average rallied 507 points, or 1.1%, and the Nasdaq composite climbed 0.6% to hit its own record. Stocks jumped even more in Tokyo, where the Nikkei 225 rallied 3.5% after President Trump announced a trade framework that would place a 15% tax on imports coming from Japan.

U.S. Attorney General Pam Bondi told President Donald Trump in May that his name appeared in investigative files related to convicted sex offender Jeffrey Epstein, the Wall Street Journal reported on Wednesday.

The revelation this week from The Wall Street Journal about Donald Trump and the so-called Epstein files was shocking — and, for those following the administration closely in recent weeks, not shocking at all.

Here’s how Donald Trump’s position on Jeffrey Epstein has changed over the year, and how the fallout over the Epstein files poses a particular challenge for him.