Stock markets in Canada and the U.S. bounced back after U.S. President Donald Trump said he wouldn’t use military force to take Greenland and backtracked on tariffs he had threatened on several European countries over the issue.

Trump also said he reached a framework of a deal about Greenland, an island he’s recently coveted.

“I think that provided some positive sentiment to the market after selling off yesterday,” said Theresa Shutt, chief investment officer at Harbourfront Wealth Management.

Read more: Canada, U.S. markets rise after Trump changes course on Greenland-related tariffs | Advisor.ca