U.S. Treasury Secretary Predicts Quick Easing of U.S.-China Tariff War; Dow Jumps 1016 Points
The Dow Jones Industrial Average soared by 1016 points on closing on the 22nd, marking a remarkable increase of 2.66%, closing at 39186.98 points. The S&P 500 also rose by 129.56 points, a 2.51% increase, finishing at 5287.76 points. The tech-heavy Nasdaq jumped 429.52 points, up 2.71%, closing at 16,300.42 points.
During a closed-door meeting, U.S. Treasury Secretary Basent forecasted that the U.S.-China tariff war is expected to ease soon, encouraging a strong rebound in the stock market. Previously, President Trump had criticized Federal Reserve Chairman Jerome Powell and called for preventive rate cuts, leading to declines in major U.S. stock indices on Monday (21st).
