The Dow Jones Industrial Average on Tuesday surged nearly 500 points, or about 2 percent, after Chinese President Xi Jinping appeared to offer an olive branch to ease trade tensions with the U.S., The Associated Press reports.
Xi indicated Beijing would "significantly" lower auto tariffs and enforce intellectual property rights of foreign corporations, with Ford rising around 2.3 percent and Apple and Microsoft 1.7 percent each in response. Fears of a trade war between China and the U.S. have caused dramatic plunges in the Dow after President Trump announced steep tariffs on China.
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