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NEW YORK: US stocks shook off a gloomy start to the week to close higher Monday (Jun 2), with traders looking through the new trade uncertainty fueled by President Donald Trump’s recent tariff threats.
On Friday, Trump unleashed a new fear into the financial markets, threatening to double steel tariffs from 25 per cent to 50 per cent.
But by Monday afternoon, traders were adopting a more buoyant mood, with all three major indices on Wall Street closing higher.
The Dow Jones Industrial Average closed up 0.1 per cent at 42,305.48, while the broad-based S&P 500 finished up 0.4 per cent at 5,935.94.
The tech-rich Nasdaq Composite also rose, climbing 0.7 per cent to 19,242.61 amid enthusiasm about the impact of AI on profits.
