US Stock Market Highlights: Dow soars 1,016 points as Bessent signals likely US-China trade de-escalation
US Stock Market Highlights: US stocks surged Tuesday (April 22) as optimism grew over a potential easing of trade tensions between the U.S. and China. The rally followed steep losses in the previous session and was led by a sharp rebound in blue-chip and tech stocks.
US Stock Market Highlights: US stocks surged Tuesday (April 22) as optimism grew over a potential easing of trade tensions between the U.S. and China. The rally followed steep losses in the previous session and was led by a sharp rebound in blue-chip and tech stocks. The Dow Jones Industrial Average jumped 1,016.57 points, or 2.66%, to close at 39,186.98. The S&P 500 rose 2.51% to 5,287.76, while the Nasdaq Composite climbed 2.71% to end the day at 16,300.42. At one point, the Dow was up more than 1,100 points. Investor sentiment was buoyed by comments from Treasury Secretary Scott Bessent, who told investors at a JPMorgan Chase-hosted meeting that a “de-escalation” in the U.S.-China trade dispute is likely. “No one thinks the current status quo is sustainable,” he reportedly said, according to someone present at the meeting, which was first reported by Bloomberg.
However, some of the market’s initial gains faded after Bessent tempered expectations, suggesting any formal agreement may take time. “If we walked out of negotiations in two or three years with something that looked like that, I’d consider it a huge win,” he added.