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HomeMarket NewsUS Stock Market LIVE: Dow gains 300 points, Lagarde says tariffs likely more disinflationary than inflationary
US Stock Market Live: US stocks rose on Wednesday as investors hoped US-China trade tensions would ease. Trump stated his intention not to fire Fed Chair Jerome Powell and expressed willingness to reduce tariffs on Chinese imports.
US Stock Market LIVE: Stocks rose on Wednesday as investors hoped US-China trade tensions would ease. The Dow Jones Industrial Average rose 534 points, or 1.4%. The S&P 500 climbed 1.8%, and the Nasdaq Composite rallied 2.7%.
Trump said he’s willing to take a less confrontational approach to trade talks with China, noting that the current 145% tariff on Chinese imports is “very high” and will be reduced substantially but not to zero. Treasury Secretary Scott Bessent said both countries have the chance to make a significant deal on trade. He suggested they collaborate to rebalance.
Stocks with higher exposure to China that had recently fallen rallied, including Apple and Nvidia, which rose 3% and 4%, respectively. Tesla shares also surged 5% due to easing tariff pressures and CEO Elon Musk’s announcement that his time at the Trump Department of Government Efficiency will decrease significantly next month.
Investors breathed a sigh of relief as Trump stated his intention not to fire Fed Chair Jerome Powell, reversing his recent criticism and demands for lower interest rates. Stocks ended the day on a winning note, with the Dow surging over 1,000 points to end a four-day losing streak, while the S&P 500 and Nasdaq Composite both rose more than 2%.
