(NewsNation) — Wall Street opened in the green Tuesday, a rare sight since President Donald Trump’s “Liberation Day” tariffs were announced last week, rocking economies worldwide.
As the market opened, the Dow Jones Industrial Average, S&P 500 and Nasdaq-100 were all up by at least 3%. The Dow recorded a 1,300 point jump.
The leaps come after days of dropping market trends and dismal future projections, which caused concern among lawmakers from both sides of the aisle.
Many are still waiting to see if the nation’s three major indices take any hits from the escalating trade tension between China and the U.S.
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Trump has threatened to slap an additional 50% tariff on already levy-laden China, which would combine with the previously announced 34% tariff and the standing 20% tariff for a total of 104%.
China’s Ministry of Commerce called Trump’s latest ultimatum a “mistake on top of a mistake” and has vowed to “fight to the end” against the tariffs.
Trump told reporters in the Oval Office on Monday he’s hopeful Chinese President Xi Jinping will change his mind.
“I have a great relationship with President Xi. I hope it’s going to stay that way,” Trump said. “I have great respect for China, but they can’t do this.”
China vows to ‘fight to the end’ against Trump’s tariffs
Despite the positive market predictions, global conflicts or products of the rumor mill could shake the stock floors, as evidenced by Monday’s seesawing stock market.
The week began with another massive fall for U.S. markets, which quickly shifted positive after a false report surfaced claiming Trump was considering a 90-day pause on the tariffs. The report had the market move $3.6 trillion to the upside in just a few minutes.
A White House official confirmed to NewsNation on Monday that no such pause was being considered.
