Dow closes up 580 points after Trump backs off tariffs over Greenland

[groundloop]

Source: ABC News

Stocks closed markedly higher on Wednesday after President Donald Trump backed off of tariff threats over Greenland. The major indexes recovered most of the losses they suffered the day before amid trade tensions centered on the Danish territory.

The Dow Jones Industrial Average climbed 588 points, or 1.2%, while the S&P 500 jumped 1.1%. The tech-heavy Nasdaq increased 1.1%.

U.S. stocks surged on Wednesday afternoon after Trump said he would retract his proposed tariff, which had been set to hit products from seven European Union members, plus the U.K., on Feb. 1.

Earlier in the day, stocks ticked up but remained relatively muted after Trump ruled out use of the military in his push for Greenland during a speech at the World Economic Forum in Davos, Switzerland.

Read more: https://abcnews.go.com/Business/dow-closes-580-points-after-trump-backs-off/story?id=129421850

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Gee, is it just me or does it seem like there may have been some market manipulation going on?

[Stargleamer]

1. My thoughts exactly. . .

He's further enriching himself at others expense. The presidency has been very lucrative for him.

[yourout]

2. I would love to know if there's some people that shorted yesterday and bought today

That would be a pretty obvious sign of insider trading.

[walkingman]

3. If we knew when he would TACO it would be quite lucrative.

I think he meant "ICELAND"

[Cheezoholic]

4. He probably sells TACO tickets for 10k crypto like a freaking lottery, or a cool Mil just to let you know when n/t

[SunSeeker]

5. All it took was Europe threatening to retaliate, and the DOW dropping 800 points, and Trump caved.

Don't obey in advance. Stand up to bullies. It works.

[Miguelito Loveless]

6. Inside traders

are making a killing.