traders searched for any sign that President Donald Trump’s tariffs could be negotiated or halted.
US stocks mostly fell after an extremely volatile day Monday — tumbling, surging and then bouncing around in every direction, as traders searched for any sign that President Donald Trump’s tariffs could be negotiated or halted.
Markets around the world had tumbled earlier in the day over concerns about how Trump’s sweeping tariffs might upend the global economy and stymie economic growth. US stocks opened the day in bear market territory but surged an hour later on rumors that the Trump administration may pause tariffs — perhaps for several months.
That rumor turned out to be just that — a White House official called any suggestion that Trump would pause tariffs “fake news.” And despite signs that some trading partners, including the EU, might be willing to negotiate with Trump, the president dashed those detente hopes when he said he could slap another 50% tariff on China.
