After a plunge of nearly 700 points last week, the stock market roared back on Monday in response to news that the U.S. and China would work together to avoid a trade war.
The Dow Jones Industrial Average jumped by 699 points, and the other major Wall Street indexes were also up. Microsoft was among the top performing stocks, its stock value increasing by almost 8 percent.
Fears of a trade war began after President Donald Trump announced he was slapping a $60 billion tariff on steel and aluminum. China replied it would reply with a levy on $3 billion of American products.
But after the Chinese government announced Monday it was willing to negotiate with American representatives.
Also on Monday:
CIVIL RIGHTS KEY FIGURE DEAD: Linda Brown, who had a key role in the landmark 1954 Supreme Court ruling in Brown vs. Board of Education which outlawed racial segregation in the United States, has died at the age of 75.
The lawsuit was filed by her father, Oliver, when his daughter was refused enrollment at an all-white public school in Topeka, Kansas.
The U.S. Supreme Court ruled unanimously that the practice of “Separate but equal was inherently unequal.”
RUSSIAN OFFICIALS EXPELLED: Sixty Russian diplomats and officials were ordered expelled by President Donald Trump on Monday as part of a 22-nation retaliation for the poisoning of a former Russian spy – and his daughter – in Great Britain.
The action following a move by British Prime Minister Theresa May, to expel 23 Russians.
Categories: The Wider World