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Dow rises more than 100 points, erasing 190-point drop, as Trump delays auto tariffs

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After a rough start to the week, stocks closed up for the second day in a row today, marking the first back-to-back gains this month. The Dow rose more than 100 points at the close, erasing a 190-point drop earlier in the day.

. Fiat Chrysler's U.S.-listed shares rose 1.9% while Ford Motor and General Motors gained 1.2% and 0.9%, respectively.

Equities initially fell after the release of weaker-than-expected economic data stoked fears that the U.S.-China trade war is dragging down global economic growth. The disappointing data from both countries comes as trade tensions between China and the U.S. have reignited. Earlier this week, China hiked tariffs on $60 billion worth of U.S. goods. The move came after the U.S. raised levies on $200 billion worth of Chinese imports. The U.S. also raised the possibility of slapping tariffs on an additional $300 billion in goods from China.

"The longer tariffs stay in place or rise in size and scope, the greater the downside risk to the U.S. growth outlook," Dimitrova said.

 

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