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US, CN Agree to Sharply Cut Tariffs for 90 Days; DJIA Soars 950+ Pts, Oil Prices Mount ~3%; Gold Prices Slip 2%+
China and the US agreed to slash tariffs for 90 days. China will reduce tariffs on US imports from 125% to 10%, while the US will axe tariffs on Chinese imports from 145% to 30%. U...
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US, CN Agree to Sharply Cut Tariffs for 90 Days; DJIA Soars 950+ Pts, Oil Prices Mount ~3%; Gold Prices Slip 2%+
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China and the US agreed to slash tariffs for 90 days. China will reduce tariffs on US imports from 125% to 10%, while the US will axe tariffs on Chinese imports from 145% to 30%. US stock futures were boosted by the news, with DJIA futures last gaining 956 points or 2.3% to 42,280. S&P 500 and Nasdaq futures mounted 2.84% and 3.56% respectively.

The global trade war seems to have cooled down, easing concerns about a slowdown in the global economy. International oil prices rebounded, with New York June oil futures last climbing 2.7% to US$62.67 per barrel. Brent oil futures for July delivery leaped 2.8% to US$65.71 per barrel. Spot gold faded 2.3% to US$3,247.56 per ounce.

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