Investors breathe easier as European shares gain on Trump tariff relief
NEW YORK - Stock indexes around the world gained on Tuesday as investors piled into riskier assets as they bet on Federal Reserve interest rate cuts and that a U.S.-China trade agreement could follow the U.S.-Mexico deal.
Wall Street followed Europe higher after a surge in Frankfurt’s DAX on the return of German and Swiss investors from an extended holiday weekend. Earlier, China’s stocks rose on Beijing easing financing rules to boost local government spending on public works and expectations of lower central bank rates globally.
“The fact the administration was able to strike a deal with Mexico cleared up that picture and gave an indication it’s willing to negotiate with China later this month... whether that happens is another thing.” The pan-European STOXX 600 index rose 0.76% and MSCI’s gauge of stocks across the globe gained 0.43%.
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