US equities markets rebounded on Tuesday after almost a week of losses.
The 30 share Dow Jones Industrial Average surged by more than 1,000 points (2.7%) while the broader S&P 500 jumped by 129.6 points (2.5%) and the technology driven Nasdaq soared by 422.8 points (2.7%) after US Treasury Secretary Scott Bessent said there will be a de-escalation of the trade war with China.
Bessent has conceded that the trade war with China is unsustainable, and that there will have to be a negotiated settlement.
There has been no discussion so far between the two countries, he added, even as he expressed optimism that a deal is possible.
European markets also climbed on comments by ECB president Christine Lagarde that the bank is winning the war against inflation.
Asia–Pacific markets however, closed mixed on US President Donald Trump's campaign to fire Fed chairman Jerome "Jay" Powell for refusing to reduce interest rates.
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