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Dow futures saw a significant rise on Monday after an announcement from the Trump administration and China regarding a temporary halt in reciprocal tariffs for a period of 90 days. This news brought a sense of relief to investors, with Dow futures trading up by about 2.2% before the opening of Wall Street. S&P futures also climbed by about 2.9% and NASDAQ futures were up by approximately 3.8%.
The stock market had faced a turbulent period following President Donald Trump’s announcement of wide-reaching tariffs, which led to massive losses amounting to trillions of dollars. These losses were reminiscent of the impact seen during the height of the COVID-19 pandemic. However, there was a sense of optimism in the air as Trump signaled a retreat from the tariffs, leading to a gradual recovery in the markets.
Despite the initial setbacks, the S&P managed to recoup all its losses from the period dubbed as “Liberation Day.” On the other hand, the Dow still lagged behind, remaining around half a percentage point lower. Nevertheless, there has been a notable rebound in the stock market, with the S&P even experiencing its longest winning streak in nine days since 2004.
The positive momentum in the stock market reflects a renewed sense of confidence among investors, signaling a potential shift towards more stable ground. As the markets continue to react to the evolving economic landscape, it remains to be seen how this temporary truce in tariffs will impact future trading activities.
Overall, the recent developments in the stock market highlight the resilience of the financial sector in the face of uncertainty, showcasing the ability of investors to adapt and respond to changing circumstances. As we navigate through these challenging times, it is crucial to monitor market trends closely and make informed decisions to optimize investment opportunities.
-ABC News’ Zunaira Zaki
