#TradeWarEases

Futures for the U.S. stock index jumped significantly on Monday morning, supported by a surprise agreement between Washington and Beijing to reduce tariffs, indicating an actual truce in the trade war that has burdened markets for weeks. The new agreement, which is effective for 90 days, stipulates that the United States will reduce the additional tariffs imposed on Chinese imports since April of this year from 145% to 30%, while China will lower its tariffs on American products from 125% to 10%. Markets reacted strongly to this news, with the Dow Jones futures rising by 1,007 points, or 2.44%, while the S&P 500 index jumped by 2.98%, and the Nasdaq index by 3.89%, driven by broad gains in major technology stocks.