Wall Street staged a sharp rebound Wednesday as easing trade tensions, potential tariff cuts on Chinese imports, and a more market-sensitive tone from the White House helped reverse the "sell America" trade.

Global stock markets rallied Wednesday after US President Donald Trump moved to reassure investors by confirming he has “no intention” of firing Federal Reserve Chair Jerome Powell, while also indicating a possible reduction in tariffs on Chinese goods.

Stock markets rose globally Wednesday following President Donald Trump suggesting that tariffs on China could drop “substantially” as his administration negotiates trade deals with dozens of countries.

The outlook for the U.S. and global economies this year and next has significantly worsened in the wake of President Donald Trump’s tariffs and the uncertainty they have created

The U.S. economy will experience sluggish growth in 2025 due to an escalating trade war and "high levels of policy uncertainty," the International Monetary Fund said in a report Tuesday. The projections reinforce economists' warnings about the negative repercussions of President Trump's tariffs on the economy.