After starting the week with a sharp selloff, stocks recovered most of their losses on Tuesday as the S&P 500 rose by 2.5%, driven by gains for blue-chip tech companies like Apple, Amazon, and Meta.
The rally was triggered in part by remarks that Treasury Secretary Scott Bessent delivered at a closed-door investor summit hosted by J.P. Morgan in Washington, D.C. As first reported by Bloomberg, Bessent told the audience that he expected the tariff situation with China to de-escalate while characterizing the ongoing standoff as unsustainable.
