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 says the U.S. may start winding down operations against Iran but insists other nations must secure the Strait of Hormuz. Ove...
Slovenia heads to the polls on Sunday (22 March) in a closely contested race between incumbent Prime Minister Robert Golob and right-w...
Iceland could reopen talks on joining the European Union after a 13-year pause, as shifting security concerns and renewed economic debate bring ...
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Slovenia heads to the polls on Sunday (22 March) in a closely contested race between incumbent Prime Minister Robert Golob and right-wing former Prime Minister Janez Janša.
Iceland could reopen talks on joining the European Union after a 13-year pause, as shifting security concerns and renewed economic debate bring EU membership back to the centre of national politics.
Italy will vote on 22 and 23 March in a judicial reform referendum that could reshape the justice system and test Prime Minister Giorgia Meloni’s political strength ahead of the 2027 general election.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 21 March, covering the latest developments you need to know.
Israel reportedly launched a fresh wave of attacks on Iran on Friday (20 March), a day after U.S. President Donald Trump told it not to repeat its strikes on Iranian natural gas infrastructure, which sharply escalated the U.S.-Israeli war on Iran.
Carlos Ray “Chuck” Norris, the martial artist, actor and cultural icon best known for his roles in action films and the long-running CBS series Walker, Texas Ranger, has died at the age of 86.
Transport groups across the Philippines launched a nationwide strike on Thursday in protest against rising oil prices. The action affected 15 to 20 protest centres in Metro Manila, with similar demonstrations taking place across several major provinces.
Hungarian Prime Minister Viktor Orbán has refused to lift his opposition to a €90 billion ($104 billion) European Union loan to help Ukraine keep up its fight against Russia’s invasion, following a meeting of EU leaders in Brussels on Thursday (19 March).
As Afghans celebrate Eid, there is at least some relief, with Afghanistan and Pakistan pausing military operations following mediation by Saudi Arabia, Qatar and Türkiye after weeks of tension.
The French government’s bid to suspend the marketplace of Chinese online retailer Shein in the country has been overruled by a Paris Court of Appeal.
The prevailing security situation in the region has done little to deter entrepreneurs from the Commonwealth of Independent States (CIS) who continue to view Dubai as a premier and safe location for business.
China has raised the retail prices of petrol and diesel after global oil prices climbed sharply. The country’s top economic planning body, the National Development and Reform Commission (NDRC), announced the move after reviewing international oil market trends.
Global financial markets remained on edge on Friday as the escalating war involving the United States, Israel and Iran continued to rattle investors, fuelling volatility in stocks and sending energy prices sharply higher.
China’s top leadership has unveiled a new push to turn advanced technologies into large-scale industrial priorities as part of the country’s upcoming 15th Five-Year Plan, which will guide economic and social development from 2026 to 2030.
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