Stocks surged on Tuesday as President Trump postponed new tariffs on the European Union following a weekend call with EU Commission President Ursula von der Leyen. The Dow rose over 400 points, and the S&P 500 and Nasdaq also made substantial gains. This development quelled investor fears stemming from Trump’s initial threats of tariffs, signaling a thaw in US-EU trade relations. The atmosphere became more optimistic as discussions were set to resume, with both sides aiming to avoid escalating trade tensions.
The Dow Jones Industrial Average soared by more than 400 points - or 1.16% while S&P 500 climbed 1%. The Nasdaq Composite, an index dominated by tech stocks, jumped 1.9%, or 367 points.
In a post on Truth Social early Tuesday, Trump said the European Union had reached out to schedule talks: "This is a positive event, and I hope that they will, FINALLY, like my same demand to China, open up the European Nations for Trade with the United States of America."
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