Overview

• Bessent said weekend communications produced a “significant de‑escalation” and that the 100% tariff announced Friday “doesn’t need to happen” before its Nov. 1 start date.
• China’s expanded export controls on rare earths prompted the U.S. tariff threat, which drove the S&P 500 and Nasdaq to their steepest daily declines since April on Friday.
• Global stocks bounced on Monday, technology shares led gains on Wall Street, and the dollar eased against the Brazilian real as investors priced a lower risk of further escalation.
• Official data showed China’s September exports rose 8.3% year over year and imports increased 7.4%, beating forecasts despite rising trade tensions.
• IMF and World Bank meetings in Washington will focus on stability risks after Kristalina Georgieva warned that stretched market valuations heighten the danger of a sharp correction.