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US stocks surge as Trump backs down on tariffs outside of China- Nasdaq 100 lifts above 18k
The US president has done what many hoped he might and see some common sense. At the same time he has increased the pressure on China, rising the tariff rate there to 125%. The other 75 countries that have requested to negotiate have been granted a 90 day delay. That is according to news wire reports. That news has sent the US stock markets screaming higher. The Dow Jones lurched above 40k (40,306 the high) and the Nasdaq 100 rose above 18,700. It has backed off a bit now, but overall the risk markets and many trading partners are letting out a high sigh of relief this evening. The Nasdaq 100 rose to 18,737 and it is right now trading at 18,355
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