#TradeWarEases Markets tremor: Historic US-China agreement on tariff mechanism ⚡
- US stock futures rose on Monday after the US and China announced they had reached an agreement to significantly reduce their overall tariffs.
- Dow Jones futures rose 785 points, or 1.9%, S&P 500 futures rose 142 points, or 2.5%, and Nasdaq 100 futures rose 689 points, or 3.4%.
- The US and China agreed to a 90-day pause in escalating tariffs on each other, with Washington reducing tariffs on China to 30% and Beijing reducing its duties on US imports to 10%, according to a rare joint statement issued by the two countries following high-level trade talks over the weekend. - Topping the economic calendar this week will be a new monthly reading for US consumer prices, which could shed some light on the impact of recent trade tensions.
- Pharmaceutical stocks fell after Trump announced plans to sign an executive order aimed at reducing prescription drug prices in the US by 30% to 80%. $BNB $BTC $ETH #TradeWarEases #BinanceAirdropNXPC
