BREAKING: U.S. stocks opened higher Tuesday, bringing momentary relief from a massive multi-day sell-off in response to President Donald Trump’s tariffs shock and even as trade tensions between the U.S. and China heated up.
The S&P 500 climbed as much as 3.3%. The tech-heavy Nasdaq opened 3.7% higher. The Dow Jones Industrial Average gained 3.6% or more than 1,300 points.
The reasons for the bounce are idiosyncratic. Some markets in Asia traded higher overnight — though this was partially in response to Chinese state funds stepping in to serve as a backstop to recent drawdowns. Japan’s Nikkei stock index also surged 6% after the White House indicated it was opening bilateral trade negotiations with the longtime U.S. ally.
European stocks climbed too, led by stronger outlooks in defense groups.
CNBC’s Dominic Chu has the latest.
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