Wall Street trimmed steep losses in afternoon trading Thursday, following remarks from President Donald Trump, who expressed some optimism about reaching trade agreements, particularly with China.
“Would love to be able to work a deal with China,” Trump told reporters at the White House. “I think we will end up working out something good for both nations.”
Trump raised the tariff on imports from China, America’s largest trading partner, to 125% on Wednesday.
“I think it’s going to work out,” Trump added.
Markets reacted swiftly. By 2:50 p.m. ET:
The S&P 500 — tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY) — was down 3.2%
The Nasdaq 100 trimmed its decline to over 3.8%
The Russell 2000 was off 3.68%.
The Dow Jones Industrial Average also recovered, paring earlier losses from over 4% midday to 2.34%.
At …Full story available on Benzinga.com
