Stocks closed higher on Tuesday, even as a single biotech slid as much as 12% and dragged on the 30-stock Dow Jones Industrial Average. Yields were up too after President-elect Donald Trump said he'll impose new tariffs on Mexico, Canada and China on day one of his new administration.
"On Friday, the President-elect used his Truth Social platform to announce hedge fund manager Scott Bessent as his Treasury Secretary, cheering markets with a relatively conventional pick to steer the world's No. 1 economy," writes Bloomberg's Alan Crawford.
