US stocks edged higher and clawed back significant losses on Monday after President Donald Trump’s softer tone eased worries over renewed US-China trade tensions.
At the open, the Dow Jones Industrial Average rose 218.9 points, or 0.48%, to 45,698.46. The S&P 500 rose 70.0 points, or 1.07%, to 6,622.53, while the Nasdaq Composite rose 374.2 points, or 1.69%, to 2,2578.674.
On Friday, the US stocks plummeted after President Trump announced he was considering a “massive increase of tariffs” on Chinese imports. This re-escalation of trade tensions wiped out billions in market value.
Trump posted on social media on Sunday saying: “Don’t worry about China, it will all be fine!” And “The U.S.A. wants to help China, not hurt it!!!”
