In a stunning turn of events over the weekend, President Trump’s tough negotiating style with China paid off big time — sending shockwaves through global markets and reigniting hopes for American manufacturers.
Following critical talks in Switzerland, both the United States and China agreed to slash tariffs, immediately lifting investor confidence worldwide. Dow Jones futures skyrocketed by over 1,100 points, according to CNN, while the S&P and Nasdaq shot up by 3% and 4% respectively.
Wedbush analysts captured the mood perfectly, telling The Wall Street Journal, “This is a huge positive in the right direction for the markets, and more progress has come out of these Swiss talks than even the bulls were hoping for heading into Friday night.”
Tai Hui, chief market strategist for Asia Pacific at JPMorgan Asset Management, added, “The magnitude of this tariff reduction is larger than expected. Overall, we expect the market to get back on to a risk-on sentiment in the near term.”
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