Stocks Surge as Tariff Tensions Ease and Dollar Recovers

U.S. stocks jumped over 2% after a previous day's sell-off, while the dollar edged higher amid President Trump's Federal Reserve criticism. Industrial shares, including 3M, improved, despite tariff concerns. Investors monitored Federal Reserve Chair Powell's position amidst Trump's critiques, contributing to economic instability concerns.

U.S. stocks rose sharply by over 2% on Tuesday, rebounding from Monday's losses, as the dollar gained ground despite ongoing investor concerns over President Trump's criticisms of the Federal Reserve Chair. The market's attention remained on first-quarter earnings reports from major U.S. companies.

Shares in industrial heavyweight 3M Co rose 8% following a first-quarter profit beat, despite potential future tariff impacts. Bloomberg reported U.S. Treasury Secretary Scott Bessent's warning over the unsustainable tariff standoff with China, anticipating a de-escalation. Trump's intensified criticism of Fed Chair Jerome Powell added to market unease.

Other market movers included Tesla, climbing 5.8% ahead of its earnings report, and Coinbase Global, which surged 8.3% alongside bitcoin's gains. The dollar, though recovering slightly, remains vulnerable, particularly against the euro and yen, amid ongoing tariff concerns and global economic uncertainties.

(With inputs from agencies.)