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.
Abdullah Öcalan, the jailed leader of the outlawed Kurdistan Workers’ Party (PKK), issued a statement on Friday (27 February) calling on Ankara to ...
Colombia’s commerce minister, Diana Marcela Morales, has said she will propose raising tariffs on certain Ecuadorian goods from 30% to 50%, as a tra...
Former U.S. President Bill Clinton said on Friday (27 February) that he had no knowledge of the crimes committed by Jeffrey Epstein and would not have...
Some of Iran's most highly enriched uranium, close to weapons grade, was stored in an underground area of its nuclear site in Isfahan, the UN nuclear ...
Tensions between the U.S. and Iran are escalating, with Washington ordering a significant military build-up in the region and multiple countries evacu...
Tensions between the U.S. and Iran are escalating, with Washington ordering a significant military build-up in the region and multiple countries evacuating diplomatic staff amid fears of further instability.
Speaking during a closed-door deposition in New York on Thursday (February), former U.S. Secretary of State Hillary Clinton said she did not “recall” ever meeting the late sex offender Jeffrey Epstein and had “no knowledge of his crimes”.
Pakistan’s declaration of an “open war” with Afghanistan must be understood in the context of months of escalating violence, regional analysts have said, describing the latest developments as a significant shift in the nature of the conflict.
Iran’s Foreign Minister Abbas Araghchi on Friday urged Afghanistan and Pakistan to resolve their differences through dialogue, offering Tehran’s assistance to facilitate understanding between its eastern neighbours.
Tensions between the U.S. and Iran are escalating, with Washington ordering a significant military build-up in the region and multiple countries evacuating diplomatic staff amid fears of further instability.
The death toll from heavy rains and flooding in Brazil’s Minas Gerais state has risen to 46, authorities said, with 21 people still reported missing. The storms triggered landslides and widespread flooding, displacing thousands across Juiz de Fora and Uba.
The situation in Cuba was heating up and called for restraint following a deadly incident involving a Florida-registered speedboat off the coast of the Caribbean island, the Kremlin said on Thursday (26 February).
Syria’s economy is showing clear signs of recovery, with economic activity accelerating in recent months, the International Monetary Fund (IMF) said on Wednesday.
Pakistani air strikes hit a weapons depot on the western outskirts of Kabul overnight, triggering hours of secondary explosions that rattled homes across the Afghan capital and left residents fearing further violence.
Paramount Skydance emerged as the winner in a months-long battle to acquire Warner Bros Discovery after streaming giant Netflix on Thursday refused to raise its bid for the storied Hollywood studio.
Global debt surged to a record $348.3 trillion at the end of 2025, after nearly $29 trillion was added over the year, marking the fastest annual increase since the pandemic, according to the Institute of International Finance (IIF) report released on Wednesday.
Millions of Colombian roses have arrived in the United States just in time for Valentine’s Day, keeping the country on track as the world’s second-largest flower exporter. Between 15 January and 9 February, Colombia shipped roughly 65,000 tons of fresh-cut blooms.
Russia’s car market is continuing to receive tens of thousands of foreign-brand vehicles via China despite sanctions imposed after Moscow’s full-scale invasion of Ukraine in 2022, a journalistic investigation has found.
Türkiye’s national energy company, TPAO, has struck a new cooperation deal with U.S. energy giant Chevron, signing a memorandum of understanding to explore joint oil and gas exploration and production opportunities, the Turkish Energy and Natural Resources Ministry announced on Thursday.
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