March 24 - Wall Street kicked off the week with a big rally as reports suggested President Donald Trump may scale back some of his planned tariffs, easing fears of an all-out trade war.
The Dow Jones Industrial Average surged 512 points, or 1.1%. The S&P 500 climbed 1.5%, while the Nasdaq Composite jumped 1.9%.
Tesla (TSLA, Financial) rebounded more than 9% after nine straight weeks of declines. Meta (META, Financial) and Nvidia (NVDA, Financial) each gained around 3%.
Sources told The Wall Street Journal that Trump's April 2 tariff package may spare certain industries and countries, though details remain in flux. Bloomberg News also reported possible exemptions.
On Friday, Trump hinted at "flexibility" in the plan, helping to boost market confidence. Analysts say while risks remain, a narrower scope could soften the blow.
Investors are still on edge, with weak consumer sentiment and economic concerns lingering. However, Federal Reserve Chair Jerome Powell reassured markets last week that any tariff-driven impact would likely be short-lived.
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