Wall Street stocks rebounded Monday from steep pre-weekend falls as US President Donald Trump softened his posture on China following earlier threats of large tariffs.

European stock markets made modest gains while Asia's leading stock markets began the week in the red as they caught up with Wall Street's sharp losses Friday.

Gold reached a fresh record high thanks to its status as a safe haven investment.

"Things have calmed down almost as dramatically as the flare up on Friday when Donald Trump threatened 100 percent tariffs on China," said City Index and FOREX.com analyst Fawad Razaqzada.

Trump, who on Friday announced "massive" tariffs due to Chinese curbs on rare earths exports, backed off that stance, saying in a Sunday social media post "it will all be fine," and adding that t

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