Overseas financial markets and U.S. futures rebound somewhat after wild day on Wall Street
CBSN
Overseas shares and U.S. futures advanced Tuesday, led by gains in Tokyo where the Nikkei 225 shot up just over 6% as markets calmed somewhat after the shocks from President Trump 's tariff hikes.
The modest rebound for most markets followed a wild day on Wall Street, where stocks careened after Trump threatened to crank his double-digit tariffs higher.
Early Tuesday, China's Commerce Ministry said it would "fight to the end" and take unspecified countermeasures against the United States after Mr. Trump threatened another 50% tariff on Chinese imports.
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Stocks skidded Tuesday morning as Wall Street braces for President Trump's rollout of a fresh round of tariffs on April 2, with some economists warning that the new import duties could crimp economic growth and reignite inflation.
Tesla CEO Elon Musk acknowledged that his role in the Trump Administration with the Department of Government Efficiency, or DOGE, is weighing on the electric vehicle maker's stock, calling his advisory role "a very expensive job."