Dow soars 1,100 points after Trump team and China dramatically lower tariffs [View all]
Source: CNN
US stocks surged on Monday after President Donald Trump’s top trade officials brokered a surprisingly dramatic de-escalation in trade tensions with China over the weekend, dropping tariffs to much lower levels, which some economists say could stave off a US recession.
The Dow closed higher by 1,161 points, or 2.81%. The broader S&P 500 gained 3.26%, and the tech-heavy Nasdaq Composite surged 4.35%. The three major indexes each posted their biggest single-day gains in over one month.
“The sharp market rally today reflects the unexpectedly positive tariff news,” said Keith Lerner, chief market strategist at Truist Advisory Services, in a Monday note. “Many investors were not positioned for this outcome, leading to a significant market surge.”
The Nasdaq, which had entered a bear market on April 4, closed up more than 20% from its lowest point this year — exiting its bear market and marking the start of a new bull market. (A rise of 20% from a recent low generally marks a bull market.)
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Read more: https://www.cnn.com/2025/05/12/investing/us-stock-market?iid=cnn_buildContentRecirc_end_recirc
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