Investors cheer U.S.-China tariff truce, but cautious over a final deal

News Snapshot:

A breakthrough in U.S.-China trade talks has propelled world stocks and the dollar higher, but investors fear further negotiations could prove a long slog, tempering optimism, as risks of a global economic slowdown persist. After two days of talks with Chinese officials in Geneva, U.S. Treasury Secretary Scott Bessent said on Monday the two sides had agreed to a 90-day pause on measures and that tariffs would fall by over 100 percentage points. That leaves U.S. tariffs on Chinese goods at 30% from May 14 to August 12 and Chinese duties on U.S. imports at 10%, beating investors’ best-case scenarios...