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Fortune
Fortune
Chris Morris

Markets open sharply higher after Trump softens on China and says he has 'no intention to fire' Fed Chair Jerome Powell

Powell US Federal Reserve Donald Trump China Nasdaq the Federal Reserve
(Credit: ANGELA WEISS/AFP via Getty Images)
  • Stocks opened higher in early trading Wednesday. The surge comes after Donald Trump backed off threats to fire the chairman of the Federal Reserve and showed a willingness to lower tariffs on China.

Stocks continued to rally early Wednesday after Donald Trump backed off threats to remove the chairman of the Federal Reserve and signals that tariffs on Chinese imports could be lowered in the weeks to come.

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