Wall Street stocks finished solidly higher Tuesday, as investors viewed the latest escalation of the US-China trade war as less consequential than feared.
The Dow Jones Industrial Average ended with a gain of 0.7 percent at 26,246.96.
The broad-based S&P 500 rose 0.5 percent to close at 2,904.31, while the tech-rich Nasdaq Composite Index advanced 0.8 percent to 7,956.11.
US President Donald Trump ratcheted up pressure on Beijing, moving forward with tariffs on $200 billion in Chinese imports. The latest round of imports will face 10 percent tariffs through the end of the year, and then the rate will jump to 25 percent.
China retaliated with tariffs on $60 billion in US goods.
Analysts said investors were relieved the United States did not impose 25 percent tariffs on the items at the outset as Trump threatened to do.
Source : AFP