Stock markets rise after Trump hints at cutting China tariffs, signaling de-escalation of trade tensions

From Morningstar: 2025-04-23 12:56:00

Global markets saw gains as President Trump hinted at a cut in China tariffs and the US signaled willingness to scale back trade tensions. STOXX Europe 600 closed up nearly 2%, US indexes were up around 2%. Analysts at UBS believe worst-case tariff scenarios can be avoided due to a more conciliatory tone and positive earnings season.

Tech stocks soared, with SAP rising 10%, while defense stocks fell on renewed hopes of a Ukraine-Russia peace deal. US bond yields softened but recovered to 4.37%, German 10-year bond yields rose to 2.49%. The dollar made modest gains against the euro. Gold retreated to $3,300 after hitting a record high of $3,500.

The author or authors do not own shares in any securities mentioned in this article.



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