Wall Street closed sharply higher on Monday, led by gains in Broadcom and other chipmakers, as investors were reassured by U.S. President Donald Trump’s conciliatory tone on renewed U.S.-China trade tensions.
U.S. Treasury Secretary Scott Bessent told Fox Business Network that Trump is on track to meet his Chinese counterpart in South Korea as the two sides work to de-escalate trade frictions.
Technology stocks, particularly those linked to artificial intelligence (AI), were among the biggest drivers of Monday’s rebound. Broadcom surged after announcing a partnership with OpenAI to produce the startup’s first in-house AI processors.
Wall Street had tumbled on Friday, with the S&P 500 and Nasdaq posting their steepest weekly declines in months. The sell-off followed China’s announcement that it would dramatically expand controls on rare earth exports, prompting Trump to threaten a 100% tariff on Chinese imports and impose export controls on critical U.S.-made software.
Over the weekend, however, Trump said “it will all be fine” and emphasised that the U.S. did not wish to harm China. China blamed the U.S. for the escalation but did not introduce further countermeasures.
Other AI-focused chipmakers also posted gains, with Nvidia and Micron Technology climbing, while the PHLX chip index rose sharply.
The S&P 500 gained 102.21 points, or 1.56%, to close at 6,654.72, the Nasdaq Composite added 490.18 points, or 2.21%, to end at 22,694.61, and the Dow Jones Industrial Average rose 587.98 points, or 1.29%, to finish at 46,067.58.
President Donald Trump said Iran is keen to reach a deal with the United States, claiming Washington had paused engagement to allow funeral ceremonies...
Morocco booked their place in the World Cup quarter-finals with a convincing 3-0 victory over Canada, ending the co-host's historic run in the tourna...
Kyrgyzstan’s ex-second in command, Kamchybek Tashiev, has been convicted of plotting to overthrow the country’s President Sadyr Japarov. Tashiev a...
Russia's Defence Ministry has said its forces are clearing the town of Lyman in Donetsk of Ukrainian forces, Moscow's state news agency Tass reported...
Uzbekistan will open an embassy in Georgia, the Central Asian country’s presidency has said. The announcement follows talks between Uzbekistan’s P...
President Donald Trump said Iran is keen to reach a deal with the United States, claiming Washington had paused engagement to allow funeral ceremonies for late Iranian Supreme Leader Ali Khamenei.
Morocco booked their place in the World Cup quarter-finals with a convincing 3-0 victory over Canada, ending the co-host's historic run in the tournament.
Kyrgyzstan’s ex-second in command, Kamchybek Tashiev, has been convicted of plotting to overthrow the country’s President Sadyr Japarov. Tashiev and Japarov had ruled the Central Asian nation in tandem since 2020, until the former was unexpectedly ousted in February.
Russia's Defence Ministry has said its forces are clearing the town of Lyman in Donetsk of Ukrainian forces, Moscow's state news agency Tass reported. Meanwhile, Russian attacks killed at least six people across three Ukrainian regions on Friday, regional officials said.
The World Meteorological Organization (WMO) has raised its forecast for the rapid emergence of a strong El Niño, warning the climate pattern is likely to drive higher global temperatures and intensify extreme weather in the months ahead.
India is investigating a data breach at Tata Electronics that exposed sensitive documents linked to Apple's unreleased iPhone 18 Pro, marking the government's first public comments on the incident.
Iran and the U.S. have concluded indirect talks in Doha without a major breakthrough, with discussions focused on maritime traffic in the Strait of Hormuz and frozen Iranian funds. Both sides are expected to meet again after the funeral of Ayatollah Ali Khamenei.
International politicians and religious leaders have paid respects to Iran's late Supreme Leader Ali Khamenei throughout the day, ahead of his six day funeral ceremony which begins on Saturday. His casket is currently on display at the Iman Khomeini Grand Mosalla in Tehran.
Germany has requested urgent talks with China's ambassador following reports that Chinese authorities trained Russian soldiers, adding fresh strain to relations between Beijing and Europe amid the war in Ukraine.
European carmakers have urged the European Union to make sure new “Made in EU” rules do not put existing investments in Türkiye and Morocco at risk.
Microsoft is expected to announce a new round of job cuts as early as next week as the technology giant looks to reduce costs, according to reports.
A Swedish court has ordered Alphabet-owned Google to pay about $1.5 billion in antitrust damages to price comparison platform PriceRunner, in one of Europe's largest competition-related awards against a major technology company.
U.S. President Donald Trump earned more than $1bn from cryptocurrency-related business ventures last year, according to his mandatory 2025 financial disclosure.
Rocket Lab has agreed to acquire Iridium Communications in an $8 billion deal, giving the space company a global satellite communications network and accelerating its expansion beyond launch services. The acquisition marks a major step in its ambition to become a fully integrated space business.
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