Global stocks rebounded after President Trump downplayed the U.S.-China trade war as 'a little squabble' a day after a spike in tensions between the two countries rattled financial markets
NEW YORK - U.S. and European stocks regained ground on Tuesday after President Donald Trump downplayed the U.S.-China trade war as “a little squabble” a day after a spike in tensions between the world’s two largest economies rattled financial markets.
On Wall Street, the Dow Jones Industrial Average climbed 347.87 points, or 1.37%, to 25,672.86, the S&P 500 gained 38.53 points, or 1.37%, to 2,850.4 and the Nasdaq Composite added 122.52 points, or 1.6%, to 7,769.54.Trump said trade talks with China had not collapsed, while China’s Foreign Ministry spokesman said the two sides had agreed to continue pursuing relevant discussions.
In another sign trade tensions are hurting the economic outlook, Germany’s ZEW institute said investors’ mood had deteriorated unexpectedly in May.
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