U.S. Stock Movement | Expectations of Trade War Easing Drive Nasdaq Golden Dragon China Index Up 5%

On Wednesday, the Nasdaq Golden Dragon China Index surged 5%, with popular Chinese concept stocks performing strongly. Kingsoft Cloud rose nearly 13%, XPeng increased over 8%, PDD and Alibaba both rose over 5%, and Baidu gained over 3%. In terms of news, U.S. Treasury Secretary Janet Yellen stated that the current situation of the U.S. imposing a 145% tariff on Chinese goods and China imposing a 125% tariff on U.S. goods is unsustainable, and that a downgrade will occur "in the near future," allowing the market to "breathe a sigh of relief." Additionally, U.S. President Trump indicated that tariffs on China will "significantly" decrease from the current level of 145%, and the tariffs will not drop to zero, with China being very satisfied with the final tariff rate