Stocks surged globally on potential targeted tariffs, US Treasury yields climbed

From Yahoo Finance: 2025-03-23 21:46:00

Global stocks rallied on Monday, led by U.S. gains, amid reports of Trump’s potentially targeted tariff plan, boosting risk appetite. Trump hinted at upcoming auto tariffs and possible breaks for “a lot of countries,” but details were lacking. Investors remain wary of long-term impacts of tariffs on economic growth and profits.

U.S. equities rose sharply, with the Dow up 1.42%, S&P 500 up 1.76%, and Nasdaq up 2.27%. MSCI’s global stock index also increased by 1.17% after falling nearly 8% since mid-February. However, European stocks closed down slightly due to tariff uncertainties, despite positive euro zone PMI data.

U.S. Treasury yields surged on news of potential targeted tariffs, with the 10-year yield up to 4.339%. Atlanta Fed President expects slower inflation progress and a quarter-point rate cut by year-end. The dollar index rose 0.26%, with gains against the Turkish lira and Japanese yen, while U.S. crude settled at $69.11 and Brent at $73 per barrel.

Read more: Stocks jump, US Treasury yields climb on tariff optimism