US: Wall St surges at open as US, China slash tariffs

[NEW YORK] Wall Street’s main indexes opened sharply higher on Monday (May 12) as the United States and China reached a deal to reduce tariffs, signalling a truce in a punishing trade war that had kept markets on edge for weeks.

The Dow Jones Industrial Average rose 649.7 points, or 1.57 per cent, at the open to 41,899.05.

The S&P 500 rose 147.3 points, or 2.60 per cent, at the open to 5,807.2​, while the Nasdaq Composite rose 745.6 points, or 4.16 per cent, to 18,674.555 at the opening bell. REUTERS