U.S. markets opened with big gains and clear signs of relief after President Donald Trump said he would not attempt to fire the head of the Federal Reserve. U.S. Treasury Secretary Scott Bessent also said Tuesday that the ongoing tariffs showdown against China is unsustainable and he expects a “de-escalation” in the trade war

Treasury Secretary Scott Bessent told investors Tuesday that the US-China trade war is unsustainable and he expects the battle to de-escalate, a person familiar with the matter confirmed to CNN, giving a boost to a Wall Street rally that had taken shape this morning.