Dow soars 1,000 points after Trump team and China dramatically lower tariffs

US stocks surged on Monday after President Donald Trump’s top trade officials brokered a surprisingly dramatic de-escalation in trade tensions with China over the weekend, dropping tariffs to much lower levels, which some economists say could stave off a US recession.
The Dow rose more than 1,000 points, or 2.5%. The broader S&P 500 was 2.85% higher, and the tech-heavy Nasdaq Composite gained 4%.