On the 9th, local time, United States President Donald Trump announced that additional tariffs would be imposed on imported steel and aluminum, leading U.S. metal producers to rally and artificial intelligence (AI) stocks such as NVIDIA to rise, culminating in a widespread increase in the New York Stock Exchange on the 10th.
On that day, the Standard and Poor's (S&P) 500 index, which is centered on large-cap stocks, closed at 6,066.44, up 40.45 points (0.67%) from the previous session. The Nasdaq index, focused on technology stocks, finished at 19,714.27, up 190.87 points (0.98%) from the prior trading day. The Dow Jones 30 index ended at 44,470.41, up 167.01 points (0.38%) from the previous trading day.
Trump told reporters aboard Air Force One, traveling to New Orleans for the Super Bowl the day before, that "any steel coming into the United States will face a 25% tariff." When asked about aluminum, he replied, "The same goes for aluminum." He also noted that a reciprocal tariff policy would be announced on the 11th or 12th.
Following Trump's announcement of additional tariffs, the U.S. steel and aluminum sectors exhibited a strong performance. Shares of Cleveland-Cliffs, a U.S. steel corporation, surged 18%, while another U.S. steel company, Nucor, rose 5.6%. U.S. Steel also gained 4.8%. Alcoa, an aluminum manufacturer, increased by 2.2%, as market share growth expectations coexisted with concerns that U.S. aluminum prices may come under downward pressure.
However, considering that the steel and aluminum sectors hold a negligible proportion of the U.S. stock market, AI-related stocks led the day's trading. NVIDIA, a leader in AI chips, rose 2.9%, while other semiconductor stocks such as Broadcom (4.5%) and Micron (3.9%) also showed strength.
This appears to be influenced by remarks made by Demis Hassabis, CEO of Google DeepMind, who stated in an interview prior to the international AI summit held in Paris, France, that "there is no new scientific advancement regarding DeepSeek and the hype around DeepSeek is somewhat exaggerated."