Stocks Recover as Bessent Says the Tariff Standoff With China Could De-Escalate

News Snapshot:

Stocks recovered on Tuesday after a steep sell-off the day before, bolstered by investors’ hope for a potential de-escalation in President Trump’s trade wars, though signs of anxiety remain. The S&P 500 rose 2.5 percent, reversing its losses from Monday, when the index fell 2.4 percent. Mr. Trump’s tariff policies are still driving sentiment on Wall Street. The stock market rally on Tuesday gained steam after Bloomberg reported that Treasury Secretary Scott Bessent said during a closed-door investor summit that he expected the tariff standoff with China to de-escalate. Karoline Leavitt, the White House press secretary, later told reporters that...