NEW YORK, New York - U.S. stocks recovered Tuesday after tanking a day earlier. The U.,S. dollar also clawewd back up off the floor, after several days of free-falling as President Trump continued his attack on Federal Reserve Chair Jay Powell.

Mr Trump has destabilized global financial markets following his all-out trade war on the rest of the world, and his brazen attempt to take control of the Federal Reserve so that he can  personally dictate the direction of interest rates. The reserve currency status of the greenback, and confidence in U.S. assets, including equities, and bonds, has been rattled in recent weeks. 

On Monday, with volumes of trading thin as investors and traders recovered from the Easter break, and with markets such as those in the UK, Australia and New Zealand closed, it didn't take much to move the dollar. to new lows The beleaguered U.S. currency hit 3-year lows Monday with the euro now topping a 10 percent appreciation since the sTrump inauguration

."Preemptive Cuts" in Interest Rates are being called for by many. With Energy Costs way down, food prices (including Biden's egg disaster!) substantially lower, and most other "things" trending down, there is virtually No Inflation," Mr Trump posted on his social media platform Truth Social.

"With these costs trending so nicely downward, just what I predicted they would do, there can almost be no inflation, but there can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW. Europe has already "lowered" seven times. Powell has always been "To Late," except when it came to the Election period when he lowered in order to help Sleepy Joe Biden, later Kamala, get elected. How did that work out?" the Trump post said.

Despite Monday's losses, investors regained some confidence Tuesday, pushing most markets higher, and the U.S. dollar stabilizing.

Helping the change of mood Tuesday, U.S. Treasury Secretary Scott Bessent told a group of investors Tuesday that he thought the U.S. stand-off with China was unsustainable, and that expectations were that trade tensions generally would de-escalate.

"Bessent is obviously trying to send a signal with that comment, and that signal would seem to be that we know this is hurting markets and we're in a hurry to wrap it up," \Jed Ellerbroek, portfolio manager at Argent Capital Management told CNBC Tueady. "The market will interpret that as good news that will cause it to rally and adjust its expectations for where the final resting place for this trade war is in a couple months."

Following are the closing quotes on Tuesday for key U.S. stock indices:

• S&P 500: The index surged by 129.56 points, or 2.51 percent, closing at 5,287.76.​

• Dow Jones Industrial Average: The Dow climbed 1,016.57 points, or 2.66 percent, ending the session at 39,186.98.​

• NASDAQ Composite: The tech-heavy index advanced 429.52 points, or 2.71 percent, to finish at 16,300.42.

  The rally was further supported by strong corporate earnings reports and a shift in investor focus towards potential tariff resolutions. Despite recent market volatility and concerns over economic forecasts, Tuesday's performance indicates an uplift of confidence among investors and traders.

​Currency Markets on Tuesday React to Political Uncertainty and Economic Forecasts

On Tuesday, the global foreign exchange markets experienced notable shifts as political developments in the United States and revised economic forecasts influenced investor sentiment.​

Major Currency Movements:

• Euro (EUR/USD): The euro weakened against the U.S. dollar, closing at 1.1425, a decline of 0.76 percent.​

• Japanese Yen (USD/JPY): The dollar strengthened against the yen, reaching 141.52, an increase of 0.47 percent.​

• Canadian Dollar (USD/CAD): The U.S. dollar saw a slight decrease against the Canadian dollar, ending at 1.3826, down 0.09 percent.​

• British Pound (GBP/USD): The pound fell to 1.3334 against the dollar, a drop of 0.33 percent.​

• Swiss Franc (USD/CHF): The dollar rose against the Swiss franc, closing at 0.8184, up 1.19 percent.​

• Australian Dollar (AUD/USD): The Australian dollar declined to 0.6365 against the U.S. dollar, a decrease of 0.69 percent.​

• New Zealand Dollar (NZD/USD): The New Zealand dollar fell to 0.5969 against the U.S. dollar, down 0.50 percent.

Global Stock Market Summary for Tuesday

Canada:

• S&P/TSX Composite Index: Canada's benchmark index rose by 297.12 points, or 1.24 percent, closing at 24,305.98.

UK and Europe:

• FTSE 100 (UK): 8,328.60, up 52.94 points (+0.64 percent)

• DAX (Germany): 21,293.53, up 87.67 points (+0.41 percent)

• CAC 40 (France): 7,326.47, up 40.61 points (+0.56 percent)

• EURO STOXX 50: 4,961.45, up 26.11 points (+0.53 percent)

• Euronext 100: 1,461.82, up 4.92 points (+0.34 percent)

• BEL 20 (Belgium): 4,238.33, up 40.69 points (+0.97 percent)​

Asia Pacific and Southeast Asian Markets:

• Hang Seng Index (Hong Kong): 21,562.32, up 167.18 points (+0.78 percent)

• SSE Composite Index (China): 3,299.76, up 8.32 points (+0.25 percent)

• Nikkei 225 (Japan): 34,220.60, down 59.32 points (-0.17 percent)

• STI Index (Singapore): 3,795.41, up 36.19 points (+0.96 percent)

• S&P/ASX 200 (Australia): 7,816.70, down 2.40 points (-0.03 percent)

• All Ordinaries (Australia): 8,013.70, down 8.20 points (-0.10 percent)

• S&P BSE SENSEX (India): 79,595.59, up 187.09 points (+0.24 percent)

• IDX Composite (Indonesia): 6,538.27, up 92.30 points (+1.43 percent)

• FTSE Bursa Malaysia KLCI: 1,486.25, down 13.22 points (-0.88 percent)

• S&P/NZX 50 Index Gross (New Zealand): 11,836.69, down 282.30 points (-2.33 percent)

• KOSPI Composite Index (South Korea): 2,486.64, down 1.78 points (-0.07 percent)

• TWSE Capitalization Weighted Stock Index (Taiwan): 18,793.43, down 312.77 points (-1.64 percent)​

Middle East & Africa:

• TA-125 (Israel): 2,509.33, up 9.61 points (+0.38 percent)

• EGX 30 Price Return Index (Egypt): 30,844.20, down 218.80 points (-0.70 percent)

• Top 40 USD Net TRI Index (South Africa): 4,782.00, up 81.89 points (+1.74 percent)​

Currencies & Commodities:

• US Dollar Index: 98.93, up 0.64 (+0.66 percent)​