Global markets recovered some of their losses Tuesday on hopes that Washington might negotiate with countries on aggressive tariffs announced last week. While North American indexes surged Tuesday morning, they ended the day with more losses. (The Logic)

Talking point: The S&P 500 and tech-heavy Nasdaq indexes closed down 1.6 and 2.2 per cent, respectively on Tuesday. In Canada, the TSX was down 2.25 per cent. Japan’s Nikkei closed about six per cent higher Tuesday, while the European STOXX 600 gained 2.7 per cent and Hong Kong’s Hang Seng Index rose over 1.5 per cent. The cautious optimism overseas follows the stock market’s worst week since March 2020, and U.S. President Donald Trump’s indication that he would be willing to negotiate his tariff policy with countries including Japan, Italy and South Korea. Sweeping tariffs on dozens of countries are nonetheless slated to go into effect Wednesday, including 104 per cent in broad-based levies on goods from China.