The Dow Jones industrial average surged over 1,100 points on Monday.
The S&P 500 also jumped 3.25%, with Nasdaq composite rising nearly 4.34% and the Russell 2000 rising 3.56%. High-tech and retail stocks, many of which are heavily exposed to China, led the rally.
Tesla rose 7%, Apple rose 6%, and Amazon rose 8%. Dell and Best Buy also recorded significant profits.
After weekend high stakes negotiations in Geneva, US tariffs on Chinese goods have been reduced to 30% from the recent 145% high, while Beijing has reduced retaliatory tariffs on US imports to 10%.
Treasury Secretary Scott Bescent called the speech “very productive” and said new discussion could take place within weeks.
President Trump welcomed the deal as a “complete reset” of US-China trade ties, noting that another 20% tariffs remained in relation to fentanyl enforcement.
The market, which had rattled since Trump’s “liberation day” tariff escalation in April, responded positively. The Dow has fallen just 0.32% or 134 points since its launch in 2025, but the NASDAQ is still down more than 3%.
Tariff rollbacks will be effective for 90 days as both parties pursue a more comprehensive agreement. The US Treasury Department said last month it collected an additional $7.6 billion in duties, highlighting the scale of the trade disruption.
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Bitcoin retreats after ceasefire, falling below $102,000
Bitcoin (BTC) fell 2.75% as of Monday afternoon to $100,771, pulling back from the nearly $106,000 range in the day. Bitcoin is currently trading nearly $101,900.
The drop eased macro uncertainty following the aforementioned temporary 90-day US and China tariff suspensions, but traders began “selling the news” after a month’s rally from a low of $75,000 in April.
This decline suggests that Bitcoin’s recent outperformance could cool down as wider markets like stocks catch up.
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