NEW YORK — Stocks are rising on Wall Street and around the world to recover some of the historic losses since last week when U.S. President Donald Trump announced sharp increases in taxes on goods imported to the U.S.

The S&P 500 was up 3.4% in early trading Tuesday. The Dow Jones Industrial Average was up 1,230 points, or 3.3%, and the Nasdaq composite was 3.6% higher.

Overseas markets also rose sharply, and the price of U.S. crude oil rose a bit after touching its lowest level in four years. Market watchers say more big swings up and down are likely as the tariff conflict plays out.

Elaine Kurtenbach and Matt Ott, The Associated Press