Markets are soaring on Tuesday after Bloomberg reported that Treasury Secretary Scott Bessent told investors he expects the tariff standoff with China to de-escalate as the current situation is not sustainable.
Speaking at a closed-door investor summit hosted by JPMorgan Chase in Washington, Bessent said that negotiations haven't started but a deal is possible. Markets, which were already up during the session, continue to climb as a result. The S&P 500 is up more than 2.6%, while the tech-heavy Nasdaq 100 jumps over 3.3%.
