AAPL, NVDA, TSLA: Stocks Surge Following Trump’s 90-Day Tariff Reduction
The U.S. stock market is experiencing a significant rally after President Donald Trump announced a reduction in tariffs on imports from most trade partners to 10% for a 90-day period. This move is intended to create space for negotiations and ease trade tensions.
- The Dow Jones Industrial Average surged by over 2,000 points.
- The Nasdaq Composite index, known for its tech-heavy composition, jumped by more than 10%.
- The S&P 500 index also saw a boost, rising as much as 9% during the afternoon trading session on April 9.
Strong rebounds were seen in the stock prices of major companies, particularly in the tech and automotive sectors. These included Apple (AAPL), Nvidia (NVDA), and Tesla (TSLA), each climbing more than 10% following the tariff relief announcement.
- Apple (AAPL) rose by 15.33%.
- Nvidia (NVDA) increased by 18.72%.
- Tesla (TSLA) surged by 22.69%.
As news of the tariff relief spread, investors eagerly purchased shares, driving these stocks higher.
China Tariffs
The specific details regarding China were not immediately clear. Earlier in the day, China introduced new tariffs of up to 84% on certain U.S. imports in retaliation to the U.S. imposing a 104% tariff on Chinese goods.
- This development raised concerns about a potential trade war between the two largest economies.
- The possibility of escalating tariffs rattled the financial markets, creating significant uncertainty.
Prior to the announcement, markets had been in a downturn. In the week following President Trump’s initial tariff announcement, the S&P 500 had fallen by more than 12%. Additionally, the Nasdaq had entered bear market territory, defined by a drop of 20% or more from its recent highs.
Amid these concerns, signs of distress were also observed in the bond market, with falling prices and rising yields early on April 9.
