Global markets rally after Trump walks back Powell attacks and Bessent looks for China ‘de-escalation’

Quick Summary:

Investor optimism built off Bessent's remarks went into overdrive after President Donald Trump told reporters in the Oval Office that he had "no intention" of firing Fed Chair Jerome Powell.

But not all good news: The IMF's World Economic Outlook report, released Tuesday, slashed its growth forecasts for the U.S., China and most other countries because of the tariff war.It now has the U.S.economy growing 1.8% in 2025, down from 2.7% in its January forecast.

Stocks: The Dow, S&P 500, and Nasdaq all rose by more than 2.5% Tuesday, recovering most of their Monday losses.

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Article Details

Author / Journalist: Ian Mount

Category: EconomyBusiness

Markets: United StatesChina

Topics: NASDAQ Scott Bessent Markets Dow Jones Dow Jones Industrial Average Donald Trump

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-23 @ 10:12:10 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 357 words

Reading Time: 2 minutes read

Sentences: 4 lines

Sentence Length: 90 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 28169261

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