#MarketRebound

The Treasury Secretary, Scott Bessent, told investors on Tuesday that the trade war between the U.S. and China is unsustainable and that he expects the battle to calm down, a person familiar with the matter confirmed to CNN, boosting the recovery of Wall Street that had formed that morning.

The Dow Jones closed up 1,017 points, or 2.66%. The S&P 500 rose 2.51% and the Nasdaq, with a strong presence of technology companies, gained 2.71%. The recovery helped to recoup the market losses on Monday, when a major sell-off hit Wall Street.

American stocks showed broad appreciation on Tuesday, with investors entering the market after Monday's heavy sell-off. Stocks extended their gains by noon, after Bessent told investors, at a closed-door event hosted by JPMorgan Chase, that he expects a reduction in the trade dispute with China. The event was reported by Bloomberg.