U.S. President Donald Trump temporarily suspended tariffs on major electronic products such as smartphones and displayed a flexible stance on automobile tariffs, leading to a strong closing for the New York Stock Exchange on the 14th (local time).
On that day, the Dow Jones Industrial Average closed at 40,524.79, up 312.08 points (0.78%) from the previous session on the New York Stock Exchange. The Standard & Poor's (S&P) 500 index closed up 42.61 points (0.79%) at 5,405.97, while the tech-heavy Nasdaq index rose 107.03 points (0.64%) to close at 16,831.48.
Earlier, the U.S. Customs and Border Protection (CBP) noted on the night of the 11th through its 'Guidance on Exclusions for Certain Goods' that major electronic products such as smartphones, laptops, hard disk drives, and memory chips would be included in the excluded tariff category. Consequently, the expectations that big tech corporations like Apple could avoid the tariffs increased, leading to a rise in related stock prices.
The iPhone manufacturer Apple closed up 2.2% on that day, while Dell Technologies rose by 4% and HP climbed 2.5%. The CSI China Internet ETF surged more than 4%, continuing its upward trend for four consecutive trading days.
Additionally, after President Trump suggested that he is 'looking into ways to assist auto companies' and hinted at the possibility of tariff exemptions for automobiles, General Motors closed up 3.48%, and Ford ended 4.07% higher.
By sector, all industries except consumer discretionary rose. The real estate sector rose by more than 2%, while utilities, materials, industrials, healthcare, finance, and essential consumer goods sectors recorded gains in the 1% range.
Meanwhile, despite the market's rise, investor anxiety remains. The S&P 500 index experienced a sharp fluctuation, dropping nearly 100 points at one point during the session, reflecting the uncertainty surrounding tariff policy.
Morgan Stanley, in a client note titled 'First time, shame on you. Second time, shame on me,' stated that 'investors should be prepared to be misled by the market several more times in the future,' forecasting that the uncertainty surrounding tariffs will continue to cause market volatility.