NEW YORK — U.S. stocks jumped in a widespread rally Tuesday, and other U.S. investments steadied a day after falling sharply on worries about President Donald Trump’s trade war and his attacks on the head of the Federal Reserve.

The S&P 500 climbed 2.5%. The Dow Jones Industrial Average rose 1,016 points, or 2.7%, and the Nasdaq composite gained 2.7%. All three indexes more than made up their big losses from the start of the week.

The value of the U.S. dollar also stabilized after sliding against the euro and other competitors.

Losers on Wall Street were the exceptions, though, as 99% of the stocks within the S&P 500 index rose. All told, the S&P 500 climbed 129.56 points to 5,287.76. The Dow Jones Industrial Average gained 1,106.57 to 39,186.98, and the Nasdaq composite jumped 429.52 to 16,300.42.

Meanwhile, Treasury Secretary Scott Bessent said that the ongoing tariffs showdown against China is unsustainable and he expects a “de-escalation” in the trade war between the world’s two largest economies.

But in a private speech in Washington for JPMorgan Chase, Bessent also cautioned that talks between the United States and China had yet to formally start. President Donald Trump placed import taxes of 145% on China, which has countered with 125% tariffs on U.S. goods. Trump has placed tariffs on several dozen countries, causing the stock market to stumble and interest rates on U.S. debt to increase as investors worry about slower economic growth and higher inflationary pressures.

Details of Bessent’s speech were confirmed by two people familiar with the remarks who insisted on anonymity to discuss them.

Israeli attacks in Gaza: Israeli strikes on the Gaza Strip killed at least 17 Palestinians, mostly women and children, and destroyed bulldozers and other heavy equipment that had been supplied by mediators to clear rubble. Separate strikes killed two people in Lebanon.

Also on Tuesday, Prime Minister Benjamin Netanyahu and President Trump spoke by phone, two weeks after the two met in Washington. Trump wrote on his social networking site Truth Social that the two spoke about trade and Iran, among other issues. “The call went very well — We are on the same side of every issue,” he wrote.

Netanyahu’s visit to Washington was not deemed a rousing success after he appeared to fail to secure the support he wanted from Trump on issues such as stopping Iran from developing nuclear weapons, reducing Trump’s tariffs, the influence of Turkey and the war in Gaza.

Israel’s 18-month offensive against Hamas has destroyed vast areas of Gaza.

An Israeli airstrike early Tuesday destroyed a multistory home in the southern city of Khan Younis, killing nine people, according to Nasser Hospital. Also, a strike in the built-up Jabaliya refugee camp killed three children and their parents, and a strike in Nuseirat killed a man and two children, according to the Gaza Health Ministry’s emergency service and local hospitals.

‘60 Minutes’ resignation: With his show involved in a bitter dispute with President Donald Trump, the top executive at the storied CBS News show “60 Minutes” resigned Tuesday while saying he’s losing the freedom to run it independently.

Bill Owens, since 2019 the executive producer of television’s most popular and influential newsmagazine, has worked at CBS News for 37 years, 25 of them at “60 Minutes.”

Trump sued “60 Minutes” for $20 billion last fall, claiming it deceptively edited an interview with his Democratic election opponent Kamala Harris. CBS denied it had done anything to give an advantage to Harris, and released the full transcript of its interview.

Weinstein rape retrial: Opening statements are set for Wednesday in former movie mogul Harvey Weinstein’s rape retrial, this time with a majority-female jury deciding the landmark #MeToo case.

After a dayslong selection process yielded a seven-woman, five-man jury and five alternate jurors by Monday, prosecutors and Weinstein’s lawyers finished choosing a sixth and final alternate Tuesday. Alternates step in if a member of the main panel can’t see the trial through.

The main jury is more female than the five women and seven men who convicted Weinstein at his first trial five years ago. The verdict marked a signature moment for the #MeToo movement against sexual misconduct, which had been fueled in 2017 by a slew of allegations against Weinstein, then a movie producer.

But in a reversal, New York’s highest court last year overturned Weinstein’s 2020 conviction and 23-year prison sentence. The court found that the original trial judge allowed prejudicial testimony.

Weinstein, 73, has pleaded not guilty and denies raping or sexually assaulting anyone.