Technology Stocks Surge Amid Tariff Uncertainty

On Monday, major U.S. stock indexes rose, driven by gains in Apple shares following a White House decision to exempt smartphones and computers from new tariffs. Despite this, uncertainty lingered as investors awaited announcements on semiconductor tariffs. Markets experienced volatility amid ongoing fears of a global trade war.

The major U.S. stock indexes closed higher on Monday, primarily bolstered by Apple, as the White House decided to exempt smartphones and computers from impending tariffs. Yet, investor caution persisted due to looming uncertainties around future tariffs, which are anticipated to impact companies' supply chain management.

The exemptions were unveiled on Friday, but President Trump announced intentions to set new tariff rates on imported semiconductors within a week. As a result, global technology stocks mostly rose, particularly benefiting companies reliant on Chinese imports. Apple shares notably climbed.

Trading on Monday reflected volatility seen since Trump declared extensive tariffs in April. With fears of a potential global trade war and recession looming, market indexes have experienced significant swings. According to Jed Ellerbroek, a portfolio manager, the prevailing uncertainty impedes consumers, businesses, and investors from making long-term spending commitments.

(With inputs from agencies.)