Wall Street Rallies as U.S. and China Slash Tariffs

In an unexpected turn of events, Wall Street stock futures saw a significant surge on Monday following a U.S.-China agreement to reduce reciprocal tariffs, effectively calming trade war tensions worldwide.

The S&P 500 and Nasdaq 100 indices experienced sharp increases, while European and Asian markets also responded favorably. The dollar rose, contrasting with falling gold prices and a substantial increase in crude oil futures.

Market specialists suggest these tariff reductions signal a shift towards more amicable international trade negotiations, though uncertainty remains over whether the current 90-day pause will suffice for a complete resolution.

(With inputs from agencies.)