NEW YORK (Reuters) -Global stocks rallied on Monday while U.S. Treasury yields climbed after reports that President Donald Trump's administration may take a more targeted approach to tariffs than previously believed, boosting risk appetite. Trump's administration is likely to exclude a set of sector-specific tariffs while applying reciprocal levies on April 2, the Wall Street Journal and Bloomberg reported. "The default position for today's investor is to be very worried about changes that the administration has proposed - whether or not there are tariffs imposed or if he repeals them, or if he delays them, it just causes extreme volatility in the market," said Peter Andersen, founder of Andersen Capital Management in Boston.