This recovery is partly sparked by strong earnings reports from JPMorgan Chase, which announced an EPS of $5.07 on revenue of $45.31 billion, surpassing analysts' expectations. However, JPMorgan's CEO Jamie Dimon warned of a "big storm" ahead due to ongoing macroeconomic instability.

Meanwhile, gold prices surged above $3,200, reaching a record high as investors seek safe-haven assets.

Bitcoin tests $84,000 as the market heads towards a reversal

Bitcoin (BTC) briefly traded above $84,000 before stabilizing near $83,796, up more than 4.5% in 24 hours. Despite recent volatility, BTC appears to remain resilient amid economic and policy uncertainty.

The tax standoff between the U.S. and China remains a key market factor. President Trump recently suspended most global tariffs for 90 days while increasing tariffs on Chinese goods to 145%, prompting Beijing to respond with a 125% tax on imports from.