Stocks Power Risk-On Rally on Trump Tariff Signals: Markets Wrap
- Wall Street sees signs that worst of US stock selloff is over
- Treasuries fall on signs that Trump will dilute April tariffs
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Stocks saw one of their best sessions of the year, with the Nasdaq 100 adding 2.2%, amid signs US trade sanctions will be narrower than feared, including a suggestion by President Donald Trump that some countries will get breaks. Bonds fell alongside gold. The dollar wavered.
Wall Street’s risk-on bid lifted shares of nearly all stripes in a rebound from a sharp selloff that has challenged the notion of US exceptionalism. A gauge of the “Magnificent Seven” megacaps rallied the most in two months, with Tesla Inc. soaring 12% and Nvidia Corp. leading chipmakers higher. The advance trimmed a slide driven by concern over lofty valuations that put big techs on pace for their worst quarter since 2022.