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.
Serbia's parliament passed a law on Friday designed to accelerate the development of a luxury complex in Belgrade, leased to an investment company fou...
Azerbaijan has no plans to deploy peacekeepers to Gaza unless there is a complete cessation of hostilities between Israel and Hamas, an Azerbaijani Fo...
German Defence Minister Boris Pistorius on Friday suggested a potential link between recent drone incidents in Belgium and discussions surrounding the...
Iranian President Masoud Pezeshkian stated on Friday that while Iran seeks peace, it will not be pressured into abandoning its nuclear and missile pro...
Explosions at a mosque in Jakarta, Indonesia, during Friday prayers have left dozens injured, with officials suggesting it could have been an attack. ...
Serbia's parliament passed a law on Friday designed to accelerate the development of a luxury complex in Belgrade, leased to an investment company founded by Jared Kushner, U.S. President Donald Trump's son-in-law.
Azerbaijan has no plans to deploy peacekeepers to Gaza unless there is a complete cessation of hostilities between Israel and Hamas, an Azerbaijani Foreign Ministry official told Reuters on Friday.
German Defence Minister Boris Pistorius on Friday suggested a potential link between recent drone incidents in Belgium and discussions surrounding the use of frozen Russian assets, held by Belgian financial institution Euroclear, to fund a substantial loan to Ukraine.
Iranian President Masoud Pezeshkian stated on Friday that while Iran seeks peace, it will not be pressured into abandoning its nuclear and missile programmes, according to state media reports.
More than 10,000 supporters of Serbian President Aleksandar Vucic rallied in Belgrade on Wednesday to show their backing for the populist leader’s policies, following a year of anti-government demonstrations.
Israel launched airstrikes on southern Lebanon after ordering evacuations, accusing Hezbollah of rebuilding its forces despite a year-old ceasefire, as Lebanon and the United Nations warned of renewed border tensions.
U.S. President Donald Trump personally urged Chinese leader Xi Jinping to release imprisoned Hong Kong media tycoon Jimmy Lai during their meeting in South Korea last week, according to three individuals briefed on the discussions and a U.S. administration official.
U.S. Senate Republicans have blocked a resolution that would have barred President Donald Trump from launching military action against Venezuela without congressional approval, despite growing concern over recent U.S. strikes in the southern Caribbean.
The driver who rammed his car into a crowd in western France on Wednesday is suspected of "self-radicalisation" and had "explicit religious references" at home, the country's Interior Minister Laurent Nunez said on Thursday.
Despite promises of recovery from the new government, Germany’s economy continues to stagnate, with no signs of renewed momentum. According to the latest report from the German Chamber of Industry and Commerce (DIHK), the country still lacks the drive needed for a genuine economic rebound.
Türkiye’s benchmark BIST 100 index ended Thursday up 0.94%, closing at 11,073.27 points. Opening the day at 11,029.29, the index gained 102.9 points compared with the previous close.
Dutch smartphone maker Fairphone is entering the U.S. market, betting on growing demand for repairable and sustainable devices as right-to-repair legislation gains traction, according to Reuters.
Premier Li Qiang said on Wednesday that China's economy will exceed 170 trillion yuan ($23.87 trillion) by 2030, presenting a big market opportunity for the world as trade restrictions rise globally.
Jamaican Prime Minister Andrew Holness on Tuesday said that last week's Hurricane Melissa, the strongest-ever storm to hit its shores, caused damage to homes and key infrastructure roughly equivalent to 28% to 32% of last year's gross domestic product.
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