US Stocks Close with Back-to-Back Gains as Trump’s Tariffs are Called into Question
The US stock market ended the day in the green on Wednesday, with major indices rising sharply after Treasury Secretary Scott Bessent clarified that President Trump had not made a unilateral offer to cut China tariffs. The Dow Jones Industrial Average surged over 400 points, while the S&P 500 and Nasdaq Composite also finished higher.
Bessent’s comments provided some relief for traders, as they suggested that the “America First” trade, which has been a significant driver of market volatility in recent months, may be on pause. The remarks were seen as a gentler message from Bessent, who had previously emphasized the need for tariffs to be cut unilaterally.
Despite the positive news, some analysts remain cautious about the market’s prospects. One strategist predicted that there will be a significant buying opportunity before the S&P 500 is due for a major correction, which could result in a 40% drop in the index.
Source: https://www.marketwatch.com/livecoverage/stock-market-today-dow-s-p-and-nasdaq-to-rally-after-trump-eases-powell-angst-and-tesla-shares-pop