Dow rebounds 900 points on rising hopes for tariff deals: Live updates

Dow rebounds 900 points on rising hopes for tariff deals: Live updates


Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., April 8, 2025. 

Brendan Mcdermid | Reuters

Stocks surged Tuesday in a slight reprieve from the tariff market turmoil, on rising hopes the U.S. would reach trade deals to lower the duties over time.

The Dow Jones Industrial Average surged 890 points, or 2.3%. The S&P 500 jumped 2.2%, while the Nasdaq Composite advanced 2.3%.

Trump posted on Truth Social Tuesday that he had a “great call” with the acting president of South Korea, and that China “also wants to make a deal badly.”

This comes amid a series of comments from White House officials that the U.S. is in negotiation talks with trading partners.

Treasury Secretary Scott Bessent’s told CNBC on Tuesday that around 70 countries had approached the U.S. for tariff negotiations. “If they come to the table with solid proposals, I think we can end up with some good deals,” Bessent said. “And part of the calculus of that may be that some part of the tariffs stay on.”

Despite talk of deals, however, none appear close to being hatched before Trump’s deadline for just after midnight when the higher reciprocal tariff rates kick in on top of the 10% baseline duty already implemented on Saturday.

The rebound come after three days of steep losses and violent volatility. Monday marked the highest trading volume for U.S. markets in at least 18 years, at roughly 29 billion shares. The 30-stock Dow Jones Industrial Average plunged more than 1,700 points at one point in the session. Between the day’s highs and lows, the index swung 2,595 points. The blue-chip index ultimately closed down by 349 points, or 0.9%.

The S&P 500 briefly entered bear market territory at the lows of Monday’s session, down more than 20% from its record, before rebounding slightly and finishing the session slightly lower. The benchmark lost 10% in two days to end last week, its worst losses since 2020 during the outbreak of Covid, on fears that Trump’s shockingly high tariff rates on most of the world will lead to a recession.

Despite Tuesday’s gains on growing optimism for tariff negotiations, investors will need to see more stability in trade policy for the bounce to have legs, according to Robert Ruggirello, chief investment officer at Brave Eagle Wealth Management.

“There has to be some staying power, something [where] corporations can make longer-term capital allocation decisions. They have to have confidence in a consistent policy,” said Ruggirello.

Apple, which was among the hardest-hit stocks due to its exposure to China, surged 4% Tuesday. Other megacap tech stocks were higher on the day, Nvidia and Meta Platforms gained around 5% each. Tesla shares also rallied more than 6%, while Amazon and Netflix were up more than 4% each.

The CBOE Volatility Index – known as Wall Street’s so-called fear gauge – spiked to about 60 on Monday, an extreme level that could signal a technical bounce was due. On Tuesday, it flickered around 40.



Source

From AI disruption to scaling up: Check out CNBC’s highlights from VivaTech
World

From AI disruption to scaling up: Check out CNBC’s highlights from VivaTech

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email CNBC’s Karen Tso presents highlights from CNBC’s coverage at VivaTech in Paris where conversations with executives were focused on AI, scaling up and whether Europe can compete with the United States and China when it comes to tech innovation. Source

Read More
London IPO fundraising hits a three-decade low in another blow to the UK capital
World

London IPO fundraising hits a three-decade low in another blow to the UK capital

City of London skyline with 20 Fenchurch Street, affectionately nicknamed the Walkie Talkie, in London, United Kingdom. Mike Kemp | In Pictures | Getty Images Fundraising from London IPOs slumped to at least a three-decade low in the first half of this year, new data showed on Friday – raising fresh questions about the fading […]

Read More
Defense tech stocks have surged – and analysts say these names have higher to go
World

Defense tech stocks have surged – and analysts say these names have higher to go

From the battlefield to the halls of Congress, a shake-up is underway that will change how armed forces around the world prepare for conflict and engage with adversaries. June began with a wake-up call about how versatile and effective drones could be in warfare. After 18 months of planning, Ukraine successfully smuggled containers armed with […]

Read More