Dow rebounds 1,000 points on rising hopes for tariff deals
Stocks surged Tuesday in a slight reprieve from the tariff market turmoil, on rising hopes the U.S. would reach trade deals to lower the duties over time.
The Dow Jones Industrial Average surged 1,090 points, or 2.8%. The S&P 500 jumped 2.8%, while the Nasdaq Composite advanced 3.3%.
Trump posted on Truth Social Tuesday that he had a “great call” with the acting president of South Korea, and that China “also wants to make a deal badly.”
This came after Treasury Secretary Scott Bessent told CNBC on Tuesday that around 70 countries had approached the U.S. for tariff negotiations. “If they come to the table with solid proposals, I think we can end up with some good deals,” Bessent said. “And part of the calculus of that may be that some part of the tariffs stay on.”
Source: CNBC