Stocks recovered on Tuesday after a steep sell-off the day before, bolstered by investors’ hope for a potential de-escalation in President Trump’s trade wars, though signs of anxiety remain.

The S&P 500 rose 2.5 percent, reversing its losses from Monday, when the index fell 2.4 percent. Mr. Trump’s tariff policies are still driving sentiment on Wall Street. The stock market rally on Tuesday gained steam after Bloomberg reported that Treasury Secretary Scott Bessent said during a closed-door investor summit that he expected the tariff standoff with China to de-escalate.

Karoline Leavitt, the White House press secretary, later told reporters that the Trump administration was “setting the stage for a deal with China.”

The gains signified a reversal from Monday’s sell-off, which accelerated after Mr. Trump again targeted Jerome H. Powell, the chair of the Federal Reserve, this time in a social media post, urging him to cut interest rates and suggesting that an economic slowdown would be Mr. Powell’s fault. Mr. Trump’s comments have unnerved investors who see the independence of the central bank as critical to the health of the American economy.

Gold, which briefly rose above $3,500 an ounce on Tuesday for the first time before pulling back, has set a series of records in recent weeks, during a largely ugly stretch for the markets. It has been soaring since early April when investors, alarmed by Mr. Trump’s tariffs, starting selling Treasury bonds. Investors often see gold as a safe haven during times of turmoil, and its price has surged more than 30 percent since the start of the year.

“Gold has again moved to yet another record, with its safe-haven reputation shining bright,” analysts at RBC Capital Markets said. “With the uncertainty related to Fed independence, gold continues to benefit as a safe-haven, and one not tied to the U.S. dollar.”