The ruling added to uncertainty, but investors were encouraged that it could slow momentum for a trade war that threatens economic and corporate growth.
The tongue-in-cheek term adopted by analysts and commentators describes how markets tumble on President Trump’s tariff threats, only to rebound when he relents.
Premarket trading implied steep declines for U.S. markets, with the pain concentrated at companies at the forefront of the artificial intelligence boom.
The consumer goods giant said the moves would make for a “simpler, more focused company” as consumers trade down to cheaper brands amid high inflation.