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Global financial markets have come together after President Donald Trump delayed new tariffs until July 9th.
The euro was acquired against the dollar, and gold prices fell as demand for safe shelters eased.
The US market is closed on Memorial Day holidays, but the Stoxx Europe 600 index was up 1% Monday morning.
European Commission chief Ursula von der Leyen called Trump on Sunday to begin debate, urging the White House to shelve his threat of imposing a 50% tariff on European Union imports.
“A good call with Potus,” von der Leyen tweeted Monday. “The EU and the US share the most consequential and closest trade ties in the world. Europe is ready to move forward with talks quickly and decisively.”
Media reports say trade representatives were set up for talks on Monday.
On Friday, US stocks fell, marking weekly declines after Trump’s tariff announcement. The Blue Chip Dow dropped approximately 0.61%, or 256.02 points, to 41,603.07. The Broad S&P 500 slid 0.67%, or 39.18 points, to 5,802.83. And the Nasdaq, which includes high-tech, dropped 1% (188.53 points) to 18,737.21.
