#TradeWarEases

U.S. stock index futures jumped significantly on Monday morning, buoyed by a surprise agreement between Washington and Beijing to reduce tariffs, indicating a real truce in the trade war that has burdened the markets for weeks. The new agreement, which is set to last 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 cut its tariffs on American products from 125% to 10%. Markets reacted strongly to this news, with the Dow Jones futures index rising by 1007 points, or 2.44%, while the S&P 500 index jumped by 2.98%, and the Nasdaq index rose by 3.89%, driven by broad gains in major technology stocks.