Global Daily: To whom much is given...

US stocks were a rollercoaster yesterday. Having closed at 5062 on Monday evening, the S&P500 opened Tuesday trade 130 points higher and spent the next 45 minutes rallying up to the 5267 daily high as markets reacted enthusiastically to comments from Trump and Bessent suggesting that there might be room for some countries to cut deals for lower tariffs. Stocks were then sold steadily for the remainder of the trading day as markets reacted to President Trump’s promise to hit China with an extra 50% tariff (104% total) from midnight.