US big banks rise as markets rebound on hopes for trade negotiations

Shares of big U.S. banks rise, signaling a rebound, as investors keenly await any sign of the U.S. opening up for negotiations over some of the aggressive tariffs

JPMorgan Chase and Citigroup rise 6%, , Morgan Stanley up 5%

Wells Fargo and Goldman Sachs up 4.8%, Bank of America rises 4.2%

China said on Tuesday it will never accept the "blackmail nature" of the U.S. to Trump's threat to ratchet up tariffs on imports from China to more than 100%

This was in response to China's decision to match 'reciprocal' duties he initially unveiled last week

Investment banks are expected to take a hit as tariff-driven uncertainty hampers dealmaking and capital markets activity, while lower consumer confidence could curb spending and loan demand

The KBW Bank Index <.BKX> has fallen 15% since Trump's tariff announcement last week

Big banks begin reporting quarterly results this week