Dow closes up 580 points after Trump backs off tariffs over Greenland [View all]
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
Gee, is it just me or does it seem like there may have been some market manipulation going on?
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