NEW YORK (AP) — U.S. stocks are rallying after President Donald Trump said “it will all be fine,” just days after he sent the market reeling by threatening much higher tariffs on China. The S&P 500 jumped 1.3% in early trading Monday to recover nearly half of its drop from Friday, which was its worst since April. The Dow Jones Industrial Average rose 473 points, or 1.1%, and the Nasdaq composite rose 1.7%. Friday’s threats had sent Wall Street to its worst sell-off since tariffs were last at the top of the market’s mind, in April. The U.S. bond market was closed for a holiday.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

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