TRADING DAY-Tariff fears cool, tech sizzles

Nasdaq notches third-biggest rise this year The last full trading week of the quarter got off to a roaring start across most major stock markets on Monday, with investors buoyed by reports that the Trump administration's tariff blitz scheduled for April 2 may not be as heavy as feared. A solid pick-up in U.S. business activity helped cement the positive tone on Wall Street, and investors bought back some of the shares they'd aggressively sold off recently like Big Tech.

Europe ended largely flat, but benchmark Asian, U.S. and global equity indices all rose sharply. Bond yields spiked higher, while 'safe-haven' gold fell for a third day to clock its longest losing streak since November.

All 10 sectors in the S&P 500 rose, led by a 4% surge in consumer cyclicals on hopes that a more targeted approach to tariffs means goods prices won't rise so much. That was the sector's biggest rise since November 2022.

Some of the biggest individual gainers on Wall Street were in tech, led by a 12% surge in Tesla.

If trade tensions cool, could investors look at U.S. assets in a more positive light? I'll dig into broader U.S. capital flows trends below, but first, a round-up of Monday's markets.

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Today's Key Market Moves.

* Wall Street's main three indices and the MSCI World hit two-week highs. The tech-heavy Nasdaq posts the biggest gain, rallying 2.3%.

* Shares in Tesla surge nearly 12%, their biggest rise since November 6, the day after U.S. President Donald Trump's election win.

* Gold continues to drift from