Trump Signals Easing of Tensions in China-U.S. Trade, Markets Strongly Rebound in Multiple Sectors
Trump posted on social media to ease concerns, temporarily alleviating market fears of escalating tensions in China-U.S. trade, triggering a strong rebound in asset prices across various sectors.
In the stock market, Dow Jones futures rose by 0.8%-0.9%, S&P futures increased by 1%-1.2%, and Nasdaq futures led with an increase of 1.3%-1.6%.
The cryptocurrency market also saw a significant recovery, with Bitcoin prices rising to around $115,500, up 5%-6%; Ethereum performed even stronger, soaring 11% to $4,130, successfully reversing most of the decline caused by the proposed 100% tariff last Friday. Previously, the market sell-off triggered by the tariff news had led to the forced liquidation of $19 billion to $19.5 billion in cryptocurrency positions, affecting 1.6 million traders.
It is important to note that the current market rebound is a relief rally, and uncertainties at the trade level have not been completely eliminated, as the threat of a 100% tariff is still scheduled to officially take effect on November 1.
