Stocks gapped down and drifted lower after China announced retaliatory tariffs in its trade war with the U.S. Another set of encouraging inflation data found more purchase today, though, and the bond market showed signs of stabilizing after a historically volatile week. That was enough for stocks to wipe out losses and wind up with their best weekly rally since 2023.
Beijing boosted its total retaliatory levies on U.S. imports from 84% to 125%, effective April 12, describing the Trump administration's tariffs policy as a "joke."
