| Symbol | Price | Change | %Change |
|---|---|---|---|
| I:DJI | $42,410.10 | 1,160.72 | 2.81 |
| SP500 | $5,844.19 | 184.28 | 3.26 |
| I:COMP | $18,708.34 | 779.43 | 4.35 |
Stocks surged on Monday after the U.S. and China agreed to roll back tariffs for a 90-day period. The Dow Jones Industrial Average rose 1,160.72 points, or 2.81%, exiting correction territory. The S&P 500 climbed 3.26% and the Nasdaq Composite rose 4.35%, exiting bear market territory.
Dow Jones Averages.
$
42410.1
The tariffs President Donald Trump announced against China on April 2 are being cut by 24 percentage points for this temporary period while retaining the remaining ad valorem rate of 10% from that announcement, according to a joint statement. China agreed to the same stipulations, adding that it will “adopt all necessary administrative measures to suspend or remove the non-tariff countermeasures taken against the United States since April 2,” the announcement stated.
Under the deal, reciprocal tariffs for both countries would be reduced by 115%. The U.S. will temporarily lower its tariffs on Chinese goods from 145% to 30%, and China will reduce its levies on American products from 125% to 10%.FOX Business Landon Mion contributed to this report
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