Stock Market Soars Over 1,100 Points as U.S.-China Strike Tariff Deal!

Holy smokes, the Dow Jones just rocketed up more than 1,100 points on Monday! Can you believe it?

The S&P 500 also blasted off by 3.25%, the Nasdaq Composite shot up nearly 4.34%, and the Russell 2000 climbed 3.56%. Tech and retail stocks, many of which have been heavily exposed to China, were leading the charge. It's like a wild bull run out there!

Tesla zoomed up 7%, Apple soared 6%, and Amazon skyrocketed 8%. Dell and Best Buy also posted some seriously strong gains. These companies are on fire!

After some intense, high-stakes negotiations over the weekend in Geneva, U.S. tariffs on Chinese goods were slashed to 30% from recent highs of 145%, while Beijing cut its retaliatory tariffs on U.S. imports to 10%. It's like a breath of fresh air for global trade!

Treasury Secretary Scott Bessent called the talks "very productive," and said another round of discussions could happen within weeks. The wheels are in motion, folks!

President Trump hailed the deal as a "total reset" of U.S.-China trade relations, but noted that a separate 20% tariff related to fentanyl enforcement would stick around. It's a big win, but there's still work to be done.

Markets, which had been shaken up since Trump's "Liberation Day" tariff escalation in April, reacted like a kid on Christmas morning. The Dow is now down just 0.32% or 134 points since the start of 2025, while the Nasdaq is still down more than 3%. It's a rollercoaster, but we're heading in the right direction!

The tariff rollback will stay in effect for 90 days as both sides chase a more comprehensive agreement. The U.S. Treasury said it collected a whopping $7.6 billion more in duties last month, showing just how crazy the trade disruption has been.

Bitcoin retreats after Truce, falls below $102,000

Bitcoin (BTC) took a 2.75% hit to $100,771 as of Monday afternoon, pulling back from nearly $106,000 reached earlier in the day. It's currently trading near $101,900, but it's still a wild ride!

The drop came right after news of the temporary 90-day U.S.-China tariff suspension, which eased macro uncertainty but led traders to "sell the news" after a month-long rally from April's lows under $75,000. It's like a classic case of "buy the rumor, sell the news!"

The decline suggests Bitcoin's recent outperformance might cool off as broader markets like equities catch up. It's a reminder that even the king of crypto isn't immune to the wild swings of the global economy!