Dow spikes nearly 670 points, rebounding amid trade turmoil
The Dow Jones Industrial Average rebounded after a tumultuous run last week, jumping nearly 670 points by the time markets closed Monday afternoon. The index surged nearly 3 percent in part thanks to Microsoft, the top-performing stock of the day.
The gains suggest the market is recovering after President Trump last week announced tariffs targeted at China, which sparked fears of a trade war between the world's two biggest economies. The Dow had closed down roughly 400 points Friday, good for its "lowest level since November," CNBC noted.
But investors "have apparently recognized that a trade war is in no one's best interests and therefore extremely unlikely," market strategist Jeremy Klein told CNBC in explaining the rebound. The S&P 500 also saw a more than 2 percent bump Monday, while the Nasdaq composite jumped 2.6 percent.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Kimberly Alters is the news editor at TheWeek.com. She is a graduate of the Medill School of Journalism at Northwestern University.
-
Today's political cartoons - November 24, 2024
Cartoons Sunday's cartoons - taped bananas, flying monkeys, and more
By The Week US Published
-
The Spanish cop, 20 million euros and 13 tonnes of cocaine
In the Spotlight Óscar Sánchez Gil, Chief Inspector of Spain's Economic and Tax Crimes Unit, has been arrested for drug trafficking
By The Week UK Published
-
5 hilarious cartoons about the rise and fall of Matt Gaetz
Cartoons Artists take on age brackets, backbiting, and more
By The Week US Published
-
US charges Indian tycoon with bribery, fraud
Speed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
By Peter Weber, The Week US Published
-
Boeing machinists approve contract, end strike
Speed Read The company's largest union approved the new contract offer, ending a seven-week strike
By Peter Weber, The Week US Published
-
US economy still strong in final preelection report
Speed Read It grew at a solid 2.8% annual rate from July through September
By Peter Weber, The Week US Published
-
Boeing machinists reject deal, continue strike
Speed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
By Peter Weber, The Week US Published
-
Ports reopen after dockworkers halt strike
Speed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
By Peter Weber, The Week US Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published