Tech stocks experienced a significant rebound after the Trump administration exempted key electronic products from new tariffs on Chinese goods. This decision relieved concerns over rising trade tensions and potential consumer price increases. Apple, which had seen its stock decline more than 9% previously, led the surge with a 5.3% increase. The overall market, including the Nasdaq and S&P 500, also posted notable gains, driven by optimism surrounding the tech sector's stability following tariff exemptions on crucial goods.
"The removal of the worst-case scenario is an element of support (at least temporarily) for the sector," Alberto Gegra, an analyst at Equita, told Reuters.
Tech stocks surged Monday after the Trump administration exempted key electronics such as smartphones, laptops and chips from a new wave of tariffs on Chinese goods.
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