Global stocks extended their rally on Thursday as traders took heart from China’s pledge of tariff cuts on US goods, with European and US shares hitting record highs and Asian indices continuing to recover from a deep sell-off earlier this week.
China has announced it will halve tariffs on some US imports as it moves to implement a “phase one” trade deal with the Trump administration and cushion the economic fallout from the coronavirus epidemic.
The S&P 500 and Dow Jones hit record highs at the open on Wall Street, as they both rose 0.3 per cent.
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