Premarket: Global stocks, U.S. dollar gain after Trump backtracks on remarks over Fed

European stocks rebounded on Wednesday, as investors drew some relief from U.S. President Donald Trump saying he had no plans to fire the head of the Federal Reserve, and hinting at lower tariffs for China. The dollar initially leapt after Trump walked back his threats to dismiss Fed Chair Jerome Powell, which shook investor confidence in U.S. assets, although most of those gains had faded as trading began in Europe. Trump also reiterated he wanted to reach a deal with China where tariffs would not be anywhere near 145%, adding that he would set the terms of a deal if…