China, US Slash Sweeping Tariffs On Each Other
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U.S. stocks rallied Monday after the U.S. and China agreed to temporarily slash tariffs following negotiations over the weekend in Switzerland.
US stocks surged to close near the highs of the session on Monday after a US-China deal to temporarily slash reciprocal tariffs offered relief to markets worried about a trade war. Wall Street notched a banner day after the US and China put tariffs on pause for 90 days,
U.S. Treasury yields inched lower as investors weighed the state of the U.S. economy amid a tame inflation report and the U.S.-China trade agreement.
President Donald Trump suggested many trade deals are near, while also endorsing cutting the tariff rate on China before weekend talks.
Shares have logged modest gains in most world markets as the initial euphoria over the 90-day truce in the trade war between the United States and China fades.
Dow industrials slip, Treasury yields creep higher and bitcoin rallies
The Trump administration says it intends to develop a 'mechanism' that will 'rebalance' the U.S. trade relationship with China — a task that has eluded presidents for decades.
U.S. stocks soared Monday as investors celebrated major progress on a U.S.-China trade deal. The Dow added over 1,100 points, exiting correction territory, while the Nasdaq Composite began a fresh bull market.