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4d ago

Global Markets Rally as Trump Signals Tariff Cuts and Powell Retains Role

President Trump’s softened stance on Chinese tariffs and Federal Reserve leadership boosts investor confidence, fueling gains in U.S., Asian, European, and Indian markets.

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., April 22, 2025. REUTERS/Brendan McDermid/File Photo
U.S. President Donald Trump looks on as Jerome Powell, his nominee to become chairman of the U.S. Federal Reserve, speaks at the White House in Washington, U.S., November 2, 2017.
Treasury Secretary Scott Bessent at the IIF Global Outlook Forum.
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Overview

  • President Trump announced he has 'no intention' of firing Federal Reserve Chair Jerome Powell, reversing earlier threats that unsettled markets.
  • Trump indicated tariffs on Chinese imports would be 'substantially' reduced, raising hopes for a de-escalation in the U.S.-China trade conflict.
  • U.S. stock futures surged, with the Dow, S&P 500, and Nasdaq up 1.7–2.5%, while Asian and European markets posted gains of 1.5–3%.
  • Tesla shares rose 6.3% after better-than-expected core auto profits and Elon Musk’s pledge to refocus on the company, reducing his involvement in government roles.
  • Indian indices Sensex and Nifty extended their six-session rally, gaining nearly 8%, driven by RBI liquidity easing and ₹1,290.43 crore in foreign portfolio investments.