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(Bloomberg) -- US stocks soared Tuesday after the biggest three-day rout in five years, fueled by the most oversold conditions since the depths of the pandemic and optimism the Trump administration will water down its harsh tariff regime.Most Read from BloombergThe Irish Hot Press Is the Low-Tech Laundry Trick the World NeedsThis Skinny Mexico City Tower Is Just 14 Feet Wide on One SideHousing Agency Aims to Relocate Its DC HeadquartersTrump Order on CDFI Fund Risks Aid for Small Businesses, Hou

Growing fears that Donald Trump's tariff blitz will plunge the world into recession are dashing hopes in the $400-billion-a-year luxury industry that wealthy Americans might help to pull it out of the biggest slump in years. One Wall Street analyst now expects worldwide sales of luxury goods will fall by as much as 2% this year, down from a previous forecast for 5% growth. Bernstein analyst Luca Solca cited the fallout from Trump's April 2 announcement of import taxes on major U.S. trading partners as reasons for the downgrade.

Wall Street analysts are out defending some stocks amid a brief reprieve in the Trump tariff-related selling.

Tech and pharma employees in Ireland are at risk from an escalating Trump trade war.

Shares of Levi Strauss rose Tuesday, a day after the denim giant reported better-than-expected first-quarter profit and gave a relatively upbeat outlook on the Trump administration's new tariffs.

Chip stocks rose Tuesday, extending Monday's gains following a rout sparked by President Donald Trump’s sweeping tariffs and China’s retaliatory measures.

President Trump is told to provide a roadmap to investors how he intends to chart a way out of the tariff crisis he has unleashed before it spirals out of control.

News of the day for April 8, 2025

Pharmacy chain Walgreens Boots Alliance (NASDAQ:WBA) reported Q1 CY2025 results beating Wall Street’s revenue expectations, with sales up 4.1% year on year to $38.59 billion. Its non-GAAP profit of $0.63 per share was 21% above analysts’ consensus estimates.

Taiwan authorised the activation of its $15 billion stock stabilisation fund on Tuesday to prop up the market after two days of sharp falls in reaction to U.S. President Donald Trump's new import tariffs. Trump last week announced that Taiwan, which runs a large trade surplus with the United States, will get a 32% tariff, sending the markets into a tailspin on Monday after they re-opened following a Thursday and Friday holiday. Taiwan's finance ministry said in a statement that the government-run National Stabilisation Fund, which has some T$500 billion ($15.15 billion) in assets that can bolster Taiwan stocks in times of crisis, had been given the go ahead to intervene in the stock market.