US, European stocks rebound as trade war panic eases

China’s move to stabilise the yuan offered some reassurance that the trade conflict between the world’s two largest economies might be contained.

NEW YORK: US and European stocks clawed back some of their recent losses after China moved to stabilise its currency, providing a respite for investors stung by an escalation in trade tensions.

The S&P 500 Index rose as much as 1% while manufacturing shares led the Stoxx Europe 600 higher as China fixed the yuan at stronger than 7 per dollar, the level that spurred a global sell-off Monday.