Dow gains 900 points, while S&P 500, Nasdaq surge as US-China deal spurs a rush into stocks

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Dow gains 900 points, while S&P 500, Nasdaq surge as US-China deal spurs a rush into stocks

Investors worldwide are assessing the US-China deal to reduce their hefty rates of reciprocal tariffs, slashed by 115 percentage points to 10% on both sides.

Aaron Hill, FP Markets’ chief analyst

This “marks a pivotal moment in global trade dynamics. However, the 90-day timeframe indicates these tariff cuts are a negotiation tactic rather than a permanent resolution, creating uncertainty about long-term trade policies.”

Kenneth Broux, Societe Generale senior FX and rates strategist

“There is a de-escalation between China and U.S. resulting in a reduction of tariff on ******** goods to 30% and ******** tariffs on US goods to 10%. It’s a clear vote by the market in favour of riskier assets. It’s a step in the right direction and a positive of U.S. assets and U.S. economy.”

Jane Foley, Rabobank head of FX strategy

“That doesn’t mean that we’re back to where we were before the Trump inauguration, the 10% baseline tariff still exists everywhere, the 90 pause is there and the clock is starting to tick. The overall scenario is not as bad as it could have been, but we still have a fair amount of uncertainty about where these tariffs will settle, their impact on world growth and central bank policy.”

Read more from Reuters here.

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