U.S. stocks surged more than 1.5% on Tuesday after the Trump administration said it would delay 10% tariffs on some Chinese products, including laptops and cell phones, driving a 4% rally in shares of iPhone maker Apple Inc.
German stocks edged up on Tuesday, with the benchmark DAX index up 70.45 points, or 0.60 percent, to close at 11,750.13 points.
Spanish share values rose by 0.22 percent on Tuesday with the benchmark stock market index Ibex-35 opening at 8,676.40 points and closing at 8,695.10 points.
Shares of department stores, discount chains and even toy makers rallied Tuesday after the U.S. said it would delay some tariffs against China until Dec. 15.
U.S. stocks traded sharply higher on Tuesday, erasing the deep losses of the previous day, as the market was buoyed by easing U.S.-China trade tensions.
European shares staged a comeback from early losses on Tuesday as growth sectors led the charge, after Washington’s move to delay tariffs on some Chinese goods provided a lift to battered global sentiment.
UK shares bagged gains for the day, reversing earlier losses, after the United States said it would delay tariffs on some Chinese products, offering respite to investors who had been gripped with fears over the trade dispute.
Indian shares ended sharply lower on Tuesday, led by a drop in automotive stocks after data showed monthly passenger vehicle sales fell at their worst pace in nearly two decades as the industry goes through a prolonged slowdown.
The Trump administration on Tuesday delayed imposing a 10% import tariff on laptops, cell phones, video game consoles and a wide range of other products made in China.
- U.S. to delay China tariffs on some products, including laptops, cell phones (Reuters: Aug 13, 2019 at 3:23 PM)
- U.S. to delay China tariffs on some products, including laptops, cell phones (Reuters: Aug 13, 2019 at 2:47 PM)
The Kenyan stock market’s benchmark index has dropped to a ten-year low battered by foreign investors exiting the bourse amid jitters in global markets.