Getty Images; Jenny Chang-Rodriguez/BIStocks surged and the dollar fell Monday after a report said Trump's tariff plans may be watered down.The report followed Trump's broad tariff threats against Canada and Mexico late last year.Trump denied the report in a post on Truth Social, and the dollar pared its losses.US stocks surged on Monday and the dollar dropped after a report said President-elect Donald Trump's tariff plans would be more targeted than initially thought.The US Dollar Index dropped about 1% in its biggest one-day decline since August, while the S&P 500 and Nasdaq 100 surged about 1%.The Washington Post reported that Trump's aides were reviewing plans to impose tariffs on every country but only on imports seen as critical to national or economic security.The report came just a few weeks after Trump threatened broad tariffs against Canada and Mexico in a post on his Truth Social account."It looks as if officials are already preparing to water down the worst of Trump's campaign promises by narrowing the scope of the tariffs," Kyle Chapman, an analyst at Ballinger Group, said.The threat of broad-based tariffs had stoked fears of a rebound in inflation, which would limit the Federal Reserve's ability to lower interest rates.But Trump pushed back on The Washington Post's report."The story in the Washington Post, quoting so-called anonymous sources, which don't exist, incorrectly states that my tariff policy will be pared back.

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BING NEWS:
  • Stock market today: Stocks surge and the dollar drops as traders try to shake off a tough start to the year
    Donald Trump hit back on Truth Social at a Washington Post report, saying his tariff policies wouldn't be watered down.
    01/6/2025 - 6:31 am | View Link
  • Stock market today: Stocks surge and the dollar drops as traders try to shake off a tough start to the year
    Stocks surged and the dollar fell Monday after a report said ... It's a shortened trading week, with the stock market closed on Thursday in remembrance of former President Jimmy Carter, who ...
    01/5/2025 - 11:00 am | View Link
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