Global stock markets surged after President Trump indicated he would lower tariffs on China and confirmed his intention not to dismiss Federal Reserve Chair Jay Powell. Trump's statements, made during a press conference, suggested a flexible approach to trade negotiations, fueling a rally in US indices like the S&P 500 and Nasdaq, which saw increases of over 2.5%. Markets in Asia and Europe followed suit, reflecting heightened optimism among investors, especially regarding the independence of the Fed and potential reductions in trade barriers.
Trump's announcement of potentially lowering tariffs on China and his support for Fed Chair Powell sparked a global stock market rally and increased investor confidence.
The president expressed his intention to be "very nice to China" in trade talks and indicated tariffs would decrease significantly if a deal was reached.
Investor sentiment improved significantly after Trump's assurance not to fire Fed Chair Powell, reversing declines triggered by his recent criticisms of the central bank.
With rising optimism, the US dollar strengthened and oil prices increased, indicating positive market reactions to the possible trade agreements and Fed's independence.
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