Stock market rallies after Treasury Secretary Bessent tells a closed-door investor summit that the tariff standoff with China is unsustainable

After starting the week with a sharp sale, the shares regained most of their losses on Tuesday as the S&P 500 increased by 2.5 %, driven by the gains of blue technology companies such as Apple, Amazon and Meta.

This gathering was partially operated through statements stating that Treasury Secretary Scott Besent was delivered at a closed investor summit hosted by JB Morgan in Washington, DC, as Bloomberg mentioned for the first time, Pisent told the public that he expects to put a customs tariff with China on the classification with his description on the ongoing round.

Investors who are eager to the good news jumped weeks of fluctuations in the Bloomberg report, which was published in the middle of the day, with stock prices jumped steadily after the morning.

The stalled dollar

While investors are usually moved from risky assets and to the US dollar during times of economic uncertainty, and its price enhances, the opposite has proven true amid president Trump’s war. Fears of policies turning the United States government to weaken the dollar against other Fiat currencies, although the dollar settled on Tuesday with the market reserves. 61 % of the participants in the latest poll of the global fund manager at Bank of America would have decreased the value of the dollar during the next year.

This did not prevent alternative investment vehicles from continuing their gatherings. Bitcoin, who argues with supporters, could be a hedge against government -backed assets, over $ 90,000 on Tuesday for the first time in more than a month, with some analysts argued that they are separated from traditional stock markets. Gold, which investors have long been seen as a safe haven amid fluctuations, for a short period above $ 3500 an ounce on Tuesday for the first time.

Despite his postponement on Tuesday from shrinkage, the Haboodi signs are still compatible with the markets, including Trump’s threats to shoot at Federal Reserve Chairman Jerome Powell. In a report published on Monday, the Bank of America has reduced its prediction rating in global economic growth by 0.3 %, partially driven by the Trump tariff plan. “We expect a great slowdown but not the recession,” analysts wrote, as they put the recession by 35 %.

The White House continues to pay the narration that commercial deals are close to the partners, including Japan and India, although the reality is likely to be more blurry. On Tuesday, Politico stated that instead of full commercial deals, any agreements are likely to be drawn as a “memorandum of understanding”, as negotiations continue for several months.

With the profit season in full strength, the slicer is likely to continue on the market. Tesla, which is led by Elon Musk, released its results in the first quarter on Tuesday evening, after the price of his share decreased nearly 15 % during the past month. The company stated that its net income slipped by 71 % in the first quarter amid competitive pressure from the outside and the uncertainty about the role of Musk.

This story was originally shown on Fortune.com