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Wall Street Surges on U.S.-China Trade War Truce


Monday, 3 December 2018 21:54 WIB

Standard & Poor's 500Saham AS


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The Dow surged more than 400 points amid trade optimism as the U.S. and China agreed to a temporary trade war ceasefire.

The S&P 500 rose 38 points, or 1.37%, to 2,799.40 as of 9:32 AM ET (14:32 GMT), while the Dow increased 409 points, or 1.60%, to 25,948.15 and the tech-heavy Nasdaq Composite jumped 133 points, or 1.82% to 7,464.67.

U.S. President Donald Trump and Chinese President Xi Jinping agreed at the G20 summit to hold off on increasing tariffs as the two continue trade talks.

Trump agreed to not raise tariffs on more than $200 billion of Chinese goods from 10% to 25%, while Xi agreed to buy more American goods. The White House said it will increase the tariffs if no deal is reached in 90 days.

Investing.com


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