Wall Street today: Nasdaq climbs over 2%, S&P 500 jumps 1.47% on tariff exemption for electronics | Stock Market News
Source: Live Mint
US stock indices opened sharply higher on Monday, with the tech-heavy Nasdaq climbing over 2%, as investors cheered the White House’s move to exempt smartphones and computers from tariffs.
At the opening bell, the Dow Jones Industrial Average rose 333.4 points, or 0.83%, to 40,546.15. The S&P 500 rose 78.6 points, or 1.47%, to 5,441.96, while the Nasdaq Composite rose 396.0 points, or 2.37%, to 17,120.442.
Tech stocks such as Apple and Nvidia led the way on Wall Street after President Donald Trump said he was exempting smartphones, computers and some other electronics from some of his stiff tariffs.
Apple shares soared 5.3%, Nvidia climbed 2.3%, Dell Technologies jumped 5.9%.
In the bond market, the yield on the 10-year Treasury eased back to 4.40%. On Friday, it had surged to 4.48% from 4.01% the week before.
On Sunday, Trump had said he would be announcing the tariff rate on imported semiconductors over the next week, keeping market participants on the edge.
The trade war between the United States and China has rattled financial markets across the globe.
Bullion
Gold prices fell more than 1% on Monday, retreating from a record high hit earlier in the session.
Spot gold was down 1.2% at $3,199.09 an ounce, as of 09:24 AM ET (1324 GMT), after hitting an all-time high of $3,245.42. US gold futures fell 0.9% to $3,215.70.
Spot silver slipped 1.1% to $31.91 an ounce, while platinum gained 0.5% to $947.05. Palladium rose 3.4% to $946.36.
