Stocks, dollar rebound in Asia as Trump steps back

Wayne Cole - Reuters - 03:41

Stock markets were enjoying a much-needed relief rally in Asia on Wednesday after President Donald Trump said he had no plans to fire the head of the Federal Reserve, and hinted at lower tariffs for China.

Summary
Companies

Asian stock markets :
Nikkei jumps over 2%, S&P 500 futures extend rally
Dollar bounces as Trump says no plans to fire Powell
Hopes for China tariff relief, but no deal yet

SYDNEY, April 23 (Reuters) - Stock markets were enjoying a much-needed relief rally in Asia on Wednesday after President Donald Trump said he had no plans to fire the head of the Federal Reserve, and hinted at lower tariffs for China.

The dollar jumped across the board after Trump walked back on threats to dismiss Fed Chair Jerome Powell, which had badly shaken investor confidence in U.S. assets.

Trump also reiterated he wanted to do a deal with China where tariffs would not be anywhere near 145%, but added that he would set the terms of a deal if Beijing did not enter talks.

Earlier on Tuesday, Treasury Secretary Scott Bessent had been reported saying he believes there will be a de-escalation in U.S.-China trade tensions, but negotiations with Beijing have not yet started and would be a "slog".

"While it is still early days, the mood in the market is evidently shifting and what was a strong 'sell America' vibe flowing through markets yesterday has in part reversed," said Chris Weston, head of research at broker Pepperstone.

"Markets are becoming ever more conditioned to the President shooting from the hip and then reversing the stance like it w...
[Short citation of 8% of the original article]

Tags: TOPIC:MARKETS-COMMODITIES-ENERGY - MKTREP - REP - CEN - CMPNY - COM - CRU - DBT - ECO - ENR - FRX - GEN - GOL - GVD - INT - MCE - METL - NEWS1 - NRG - POL - POTUS - PREMTL - STX - WASH - WEU - EASIA - KR - AMERS - US - EUROP - SG - HK - AU - ASEAN - TW - NAMER - SEASIA - EMEA - ASXPAC - EMRG - AUNZ - CN - ASIA - JP - DEST:AUF - DEST:CSA - DEST:SNI - DEST:SI - DEST:LBY - DEST:REULB - DEST:ABX - DEST:G - DEST:RAST - DEST:FNE - DEST:SOF - DEST:J - DEST:M - DEST:PGE - DEST:GNN - DEST:Z - DEST:PTD - DEST:RNP - DEST:E - DEST:C - DEST:AFA - DEST:BNX - DEST:GRO - DEST:PSC - DEST:FMW - DEST:U - DEST:O - DEST:DNP - DEST:MTL - DEST:FUN - DEST:UCDPTEST - DEST:RWSA - DEST:GNS - DEST:RWS - DEST:D - DEST:RBN - DEST:OIL - CDTY - FIN - MKTS/GLOB - DEST:OUSBSM - DEST:OCABSM - DEST:OUSTPM - DEST:OCATPM - DEST:OUKBSM - DEST:OUKTPM - DEST:NOINBSM - DEST:OZABSM - DEST:METOP - DEST:ORTAO - PACKAGE:US-TOP-NEWS - DEST:SEABS -

Source and Copyright images and texts: Wayne Cole - Reuters
Original link, read full article here: https://www.reuters.com/markets/global-markets-wrapup-1-2025-04-23/
Link direct on our website : http://iscaninfo.com/article/26099919/Stocks--dollar-rebound-in-Asia-as-Trump-steps-back
Share : Facebook - Twitter

Disclaimer for Articles and Translations:
The articles published on this website have been written by external authors and do not necessarily represent the views or opinions of the group. The information contained in these articles is provided for informational purposes only and should not be considered professional or legal advice.
In addition, the translations provided on this website may not be accurate or complete. We cannot guarantee the accuracy, reliability, or relevance of these translations and we disclaim all liability for any loss or damage caused by their use.
We recommend that our readers verify all information before making decisions or taking action based on these articles or translations. We will not be held responsible for any errors or omissions in the information provided on this website.