On Tuesday, major Chinese stocks saw significant gains. The Nasdaq Golden Dragon China Index (HXC) rose by 3.69%. Among the top gainers by market cap, Alibaba (BABA, Financial) increased by 5.25%, Pinduoduo (PDD) by 4.22%, and Baidu (BIDU) by 2.51%. Other notable risers included Tencent Music (TME) up 4.34%, and NIO (NIO) climbing 4.03%.
Meanwhile, U.S. markets also experienced a substantial rebound, with all three major indices erasing previous losses. The Dow Jones Industrial Average rose by 1016.57 points, or 2.66%, to 39,186.98. The Nasdaq Composite increased by 429.52 points, or 2.71%, to 16,300.42, and the S&P 500 added 129.56 points, or 2.51%, closing at 5,287.76.
U.S. Treasury Secretary's comments on the unsustainability of trade wars and expectations of easing tensions contributed to the market's recovery. The Minneapolis Federal Reserve President emphasized the Fed's responsibility to prevent tariffs from causing prolonged inflation issues.
