Stocks set to rebound as Treasury Chief Bessent says tariff negotiations could bring "good deals"
CBSN
Stocks are set to rebound on Tuesday after investors suffered a three-day sell-off that wiped out trillions in market value amid anxieties about the economic impact of President Trump's wide-ranging reciprocal tariffs.
S&P 500 futures rose 2.6% before the open of U.S. trade at 9:30 a.m., according to financial services firm FactSet. Dow Jones Industrial Average futures indicated a rise of 2.9%, while the Nasdaq composite index is signaling a climb of 2.3%.
The sell-off began on April 3, the day after Mr. Trump unveiled tariffs on imports from almost every nation, on top of a number of previously announced import duties targeting the auto, steel and aluminum industries, among others. Wall Street economists say the tariffs are likely to drive up inflation because they'll largely be passed onto consumers in the form of higher prices, which could stall U.S. economic growth and increase the risk of a recession.
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