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.
Russian forces staged a mass drone attack on the southeastern Ukrainian city of Zaporizhzhia late on Tuesday, triggering fires, injuring 12 people and...
France will finalise with other European Union countries a solution for providing financial support to Ukraine using frozen Russian assets, President ...
U.S. President Donald Trump's efforts to end the war in Ukraine received support from the leaders of Britain, France, and Germany, who emphasized that...
Former President Jair Bolsonaro will begin a 27-year prison sentence for a coup plot against his successor, a decision made by Brazil's Supreme Court ...
The U.S.-imposed Thursday deadline on Ukraine’s peace plan is no longer Thursday, U.S. President Donald Trump said on Tuesday, adding that “the de...
U.S. President Donald Trump's efforts to end the war in Ukraine received support from the leaders of Britain, France, and Germany, who emphasized that any solution must fully involve Ukraine, following their Coalition of the Willing meeting on Tuesday.
Former President Jair Bolsonaro will begin a 27-year prison sentence for a coup plot against his successor, a decision made by Brazil's Supreme Court on Tuesday, marking the culmination of years of political turmoil and legal battles.
The U.S.-imposed Thursday deadline on Ukraine’s peace plan is no longer Thursday, U.S. President Donald Trump said on Tuesday, adding that “the deadline for me is when it’s over.”
Galatasaray suffered a 1-0 defeat at home to Belgian side Union Saint-Gilloise in the fifth round of the UEFA Champions League.
The Hayli Gubbi volcano in north-eastern Ethiopia erupted on Sunday for the first time in over 12,000 years, before halting on Monday, according to the Toulouse Volcanic Ash Advisory Center.
U.S. President Donald Trump has told his advisers that he plans to speak directly with Venezuelan President Nicolas Maduro according to Axios, as Washington designated him as the head of a terrorist organisation on Monday. A claim Maduro denies.
Chinese President Xi Jinping has once again expressed strong support for Venezuelan President Nicolás Maduro, condemning foreign interference and criticising U.S. actions in the region.
The United States is preparing to launch a new phase of Venezuela-related operations in the coming days, four U.S. officials told Reuters, as the Trump administration escalates pressure on President Nicolas Maduro.
Pakistan issued a strong rebuke after India’s Defence Minister Rajnath Singh suggested that Sindh, currently a province of Pakistan, could one day return to India. Singh framed the idea as part of a civilisational link, saying borders can change and past separations may not be permanent.
European Union ministers will urge senior U.S. trade officials to implement more elements of the July EU–U.S. trade deal on Monday, including cutting tariffs on EU steel and lifting duties on goods such as wine and spirits.
Google has announced a major update for its Pixel 10 series: owners can now send and receive files with Apple devices using AirDrop, without any collaboration from Apple. The new functionality applies to iPhones, iPads, and macOS devices, though for now it is limited to the Pixel 10 line.
European shares climbed on Thursday, as a relief rally swept through global markets after artificial intelligence (AI) bellwether Nvidia reported strong earnings, while investors awaited the release of delayed U.S. jobs data.
Mainland China and Hong Kong equities slipped on Tuesday, Reuters reported, as investors grew cautious ahead of delayed U.S. economic data expected to clarify the Federal Reserve’s policy outlook.
A federal jury in California ruled on Friday that Apple must pay $634 million to Masimo, a medical-monitoring technology company, for infringing a patent related to blood-oxygen reading technology.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment