Stocks soar after U.S. delays plans for some China tariffs

Stocks soar after U.S. delays plans for some China tariffs

Trader Steven Gohl monitors screens at his post on the floor of the New York Stock Exchange, Tuesday, Aug. 13, 2019. Stocks shot higher on Wall Street after the U.S. government announced it was delaying the implementation of tariffs on certain goods imported from China. (Associated Press) NEW YORK (AP) — And back up goes the stock market. Stocks tore higher Tuesday, continuing their roller-coaster ways, after the latest turn in the U.S.-China trade war flipped investors back to buying mode. This time, it was the United States saying it would hold off on tariffs of Chinese imports of mobile phones, toys and several other items on holiday shopping lists until Dec. 15. China also said its negotiators had spoken with U.S. officials about the tariffs that President Donald Trump threatened to impose on Sept. 1, and they planned to talk again in the next two weeks. The S&P 500 burst higher immediately after the announcements, and it was on pace for one of its best days in months. It was up 1.5%, as of 11:16 a.m. Eastern time and earlier had been up as much as 2.1%. The Dow Jones Industrial Average rose 390 points, or 1.5%, to 26,288, and the Nasdaq composite jumped 1.9%. It’s just the latest turn for markets, which have been in the spin cycle since Trump announced on Aug. 1 that he would impose 10% tariffs on about $300 billion in Chinese imports, which would be on top of tariffs already on $250 […]

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