Wall Street sees a big early gain of 4% vanish as uncertainty reigns about Trump’s tariffs
By STAN CHOE, AP Business Writer
NEW YORK (AP) — The U.S. stock market is careening through a second straight day of stunning swings Tuesday as uncertainty continues to reign about what whether President Donald Trump will ease up on his trade war, which is scheduled to kick into a higher gear after midnight.
After roaring to an early gain of 4.1%, which put it on track for its best day in years, the S&P 500 quickly lost all of it within a few hours. It was virtually flat in afternoon trading after bouncing between modest gains and losses.
The Dow Jones Industrial Average was up 158 points, or 0.4%, after giving up most of its earlier surge of 1,460 points, while the Nasdaq composite was down 0.2%, as of 1:25 p.m. Eastern time.
Stocks globally had rallied earlier in the day, with indexes up 6% in Tokyo, 2.5% in Paris and 1.6% in Shanghai. But even after those jumps, analysts had been warning to expect more swings up and down for financial markets not only in the days ahead but also the hours.
