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Media & Tech Stocks Extend Rally As Trump Softens Stance On China Tariffs, Fed Chief
Media shares and markets extended a rally sparked by President Trump floating possible détente in a China trade war and insisting he won't fire the Fed chief.
Entertainment and tech shares followed markets higher extending a rally sparked by President Trump floating a possible détente in the China trade war and insisting he has no plan “whatsoever” to fire Jerome Powell after recently musing about the central bank chief’s “termination.” The swing is the latest gyration in a wild period with markets plunging time and again in response to tariffs on global trading partners and threats to U.S. financial stability, then surging on comments by President Trump or his advisors signaling a softer stance. Trump advisor, scaling-back DOGE chief and Tesla CEO Elon Musk said China tariffs hit the automaker, disrupting the availability of magnets needed for its Optimus household robots.
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