Wall Street jumped for a second consecutive session on Wednesday on signs the White House was open to de-escalating trade tensions with China and reducing sweeping tariffs, and after President Donald Trump stepped back from his attacks on Federal Reserve Chairman Jerome Powell.

Markets moderated after Chinese officials pushed back on comments from President Trump and others suggesting that tariffs may ease via negotiations.

Asian shares are mostly higher, with markets showing relief after President Donald Trump indicated he won’t dismiss the head of the U. S. Federal Reserve

Thanks largely to Trump’s antics, accompanied by a growing concern he is intent on dismantling the world economic order as we know it, the Dow Jones index of US shares is down around 5 per cent so far this year.