Treasury Secretary Bescent at closed door investors summit shares gathering stock markets saying that the unbearable tariffs with China are unsustainable
After starting the week with Sharp saleshares recovered most of their losses on Tuesday as the S&P 500 rose 2.5%. apple, Amazonand Meta.
The rally was partially triggered by the statement that it was delivered at the Investor Summit, which was first closed at the Closed Door Investor Summit hosted by JP Morgan in Washington, D.C. It has been reported Bloomberg said Bescent told the audience that while characterizing the continuous standoff as unsustainable, he hopes the tariff situation with China will escalate.
Investors jumped enthusiastically to the good news after weeks of volatility as stock prices rose after steadily creeping up in the morning.
A loose dollar
Investors usually move from dangerous assets to the US dollar in times of economic uncertainty and strengthen prices, but the truth is proven during President Trump’s tariff war. Fear of US government’s changing policies has weakened the dollar against other Fiat currencies, but the dollar has stabilized as the market was backed up on Tuesday. 61% of participants in Bank of America’s latest Global Fund Manager Survey prediction The dollar will be devalued over the next year.
That did not stop alternative investment vehicles from continuing their gatherings. Bitcoin, which supports supporters claim to serve as a hedge against government-supported assets, rose above $90,000 for the first time in more than a month on Tuesday, along with some analysts Discussion Separate from the traditional stock market. Gold, long I saw it Easy to use by investors as a safe haven in volatility rose It went over $3,500 for the first time on Tuesday, and it exceeded a ounce.
Despite a recession from Tuesday’s recession, bearish signals continue to stake markets, including Trump threat He fires Federal Reserve Chairman Jerome Powell. In a report released Monday, Bank of America Securities downgraded its global economic growth forecast by 0.3%, driven in part by Trump’s volatile tariff plans. “We expect a significant slowdown, but it’s not a recession,” the analyst wrote, writing that it has brought the chance of a recession to 35%.
The White House continues to push the narrative of close trade deals with partners, including Japan and India, but the reality is frightening. Tuesday, Politico It has been reported It is not a full-scale trade transaction, and any contract is sketched as a “memorandum of understanding” and negotiations last for several months.
Market chops may continue as revenue seasons are fully enforced. Elon Musk-led Tesla It announced its first quarter results on Tuesday evening after its stock price fell nearly 15% last month. company It has been reported Its net profit slipped 71% in the first quarter amidst competitive pressures from overseas and uncertainty about the role of musk.
This story was originally introduced Fortune.com