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<US>US Techs Surge on Tariff Waiver; Nasdaq Gains Pare to 107Pts; Apple Ends Up 2%
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U.S. President Donald Trump unexpectedly announced a tariff exemption for smartphone and computer components, driving tech stocks to bolster the market on Monday, with the Nasdaq outrunning. The Nasdaq surged by up to 412 points or 2.4%, closing up 107 points or 0.6% at 16,831. The S&P 500 rose 42 points or 0.8%, closing at 5,405, while the DJIA rallied 312 points or 0.8%, resting at 40,524. Trump’s decision to exclude smartphones and other items from a 145% trade tariff on Chinese goods sent Apple (AAPL.US) shares higher by about 7% at one point, before settling with a gain of over 2%. Nvidia (NVDA.US) announced its first purchase of U.S.-made AI hardware, but its upswing loosened with the broader market, closing down 0.2%. Meanwhile, Trump indicated he is considering exempting tariffs on imported cars and parts, boosting General Motors (GM.US) and Ford (F.US) by 3-4%, while European automaker Stellantis (STLA.US) jumped up over 5%. AAStocks Financial News |
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