Some relief is flowing through financial markets worldwide Tuesday, and stocks are bouncing to recover a bit of their historic losses since President Donald Trump dramatically raised the stakes in his trade war last week.
The S&P 500 was up 3.7 per cent in morning trading, though it still remains more than 14 per cent below its record set in February.
The Dow Jones Industrial Average was up 1,388 points, or 3.6 per cent, as of 10:30 a.m. Eastern time, and the Nasdaq composite was 4.1 per cent higher.
The bounce was global. Stock indexes rallied 6 per cent in Tokyo, 3.5 per cent in Paris and 1.6 per cent in Shanghai.
The price of crude oil also pulled higher after touching its lowest level since 2021 on Monday. Bitcoin steadied and was back above USD 79,000 after dropping toward $76,000 the prior day.