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.
Iran’s Supreme Leader Ayatollah Seyed Mojtaba Khamenei has declared a “decisive victory” over the U.S. and Israel, signalling a &...
Pakistan‑brokered talks between the U.S., Israel and Iran get underway today as disagreements continue over the two‑week ceasefire, including I...
Uzbekistan is advancing plans to reduce the state’s role in the economy while introducing a VAT refund system for foreign visitors, as part o...
The European Union and Washington are nearing an agreement to coordinate the production and security of critical minerals, Bloomberg News reported ...
Caricatures of U.S. President Donald Trump and Israeli Prime Minister Benjamin Netanyahu are on display in a me...
Iran’s Supreme Leader Ayatollah Seyed Mojtaba Khamenei has declared a “decisive victory” over the U.S. and Israel, signalling a “new phase” in Tehran’s control of the strategic Strait of Hormuz.
Pakistan‑brokered talks between the U.S., Israel and Iran get underway today as disagreements continue over the two‑week ceasefire, including Israel‑Hezbollah conflict and Iran’s handling of shipping through the Strait of Hormuz after President Donald Trump warned the terms were being misapplied.
Uzbekistan is advancing plans to reduce the state’s role in the economy while introducing a VAT refund system for foreign visitors, as part of broader efforts to attract investment and boost tourism.
The European Union and Washington are nearing an agreement to coordinate the production and security of critical minerals, Bloomberg News reported on Friday (10 April).
Israeli Prime Minister Benjamin Netanyahu says he has given an instruction for Israel to begin peace talks with Lebanon that would also include the disarming of Hezbollah.
Some geographies are small on the map yet immense in history. The Strait of Hormuz is one. About a quarter of global oil trade and a fifth of LNG flows pass through this narrow corridor - around 20 million barrels per day sustaining the global system.
Afghanistan and Pakistan have agreed to continue dialogue and avoid steps that could worsen tensions after China-hosted talks in Urumqi, with Kabul and Beijing saying the meetings focused on easing differences and improving relations.
Memorial events were held in Tehran’s main squares on Wednesday (8 April) to mark the 40th day since the killing of former Supreme Leader Ayatollah Ali Khamenei, who died during U.S.-Israeli attacks on 28 February.
Pakistan‑brokered talks between the U.S., Israel and Iran get underway today as disagreements continue over the two‑week ceasefire, including Israel‑Hezbollah conflict and Iran’s handling of shipping through the Strait of Hormuz after President Donald Trump warned the terms were being misapplied.
A French fashion label is placing China at the heart of its global ambitions, choosing Shanghai for its worldwide debut in a move that shows growing confidence in the country’s consumer market and cultural influence.
Walt Disney is planning to cut up to 1,000 jobs in the coming weeks, with many of the reductions expected to affect its marketing division, The Wall Street Journal reported on Wednesday, citing sources familiar with the plans.
Major automakers showcased new electric vehicles at the New York Auto Show this week, under the slogan “electrification is the future." However, weakening demand in the United States and intense competition with China are raising questions for markets across the globe, including the South Caucasus.
The U.S. national average retail price of petrol rose above $4 a gallon for the first time in over three years on Monday (30 March), according to GasBuddy data, as the U.S.–Israeli war with Iran continued to roil global energy markets.
Japan and Indonesia will deepen coordination on energy security, Tokyo said, as the U.S.-Israeli war on Iran disrupts vital oil and gas flows to Asia.
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