Stocks surged on Monday after reports suggested President Trump may scale back some of his tariff plans, easing fears of a major trade war.
The Dow rose by about 502 points (1.2%), the S&P 500 increased by 1.5%, and the Nasdaq Composite climbed nearly 1.8%.
Tesla rebounded over 7%, breaking a nine-week decline, while Meta and Nvidia also saw gains of about 4% and 2%, respectively. However, concerns linger regarding a potential U.S. economic slowdown as Trump’s tariffs are set to take effect on April 2.
Trump’s tariffs, aimed at countries imposing duties on U.S. imports, may be narrower than anticipated and could exclude certain industries and nations, according to reports from the Wall Street Journal and Bloomberg News. However, the situation remains fluid, and changes are possible.
Source (CNBC)
