off-the-wire

Wall St surges at open as US, China slash tariffs

Kitco Media
By Reuters
Published:
Updated:
Reuters
Wall St surges at open as US, China slash tariffs teaser image

May 12 (Reuters) - Wall Street's main indexes opened sharply higher on Monday as the United States and China reached a deal to reduce tariffs, signaling a truce in a punishing trade war that had kept markets on edge for weeks.

The Dow Jones Industrial Average (.DJI), rose 649.7 points, or 1.57%, at the open to 41,899.05. The S&P 500 (.SPX), rose 147.3 points, or 2.60%, at the open to 5,807.2​, while the Nasdaq Composite (.IXIC), rose 745.6 points, or 4.16%, to 18,674.555 at the opening bell.

Reporting by Shashwat Chauhan in Bengaluru; Editing by Devika Syamnath

 

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