Short-covering was on display as stocks shot up on signs of easing tensions on trade even though no concrete deals have been reached yet.

“We sold out of our Mag 7 holdings. Early on we got out of Meta, and reduced our Amazon. We got out of basically all of them,” Dan Loeb said.

The 191-nation fund credited higher tariff revenue for a somewhat smaller deficit projection.

The 191-nation fund credited higher tariff revenue for a somewhat smaller deficit projection.

“We sold out of our Mag 7 holdings. Early on we got out of Meta, and reduced our Amazon. We got out of basically all of them,” Dan Loeb said.

The ECB last week cut interest rates by a further 25 basis points and warned of a “deteriorated” growth outlook linked to tariff tensions.

These are the stocks posting the largest moves in extended trading.

These are the stocks posting the largest moves in extended trading.

These are the stocks posting the largest moves in extended trading.

These are the stocks posting the largest moves in extended trading.