Trump Delays 50% Tariff on Europe; Dow Jumps 740 Points Ending Four-Day Decline
U.S. President Donald Trump had originally planned to impose a 50% tariff on European Union imports starting June 1, but after a phone call with European Commission President Ursula von der Leyen, he agreed to delay it until July 9. Following this news, all major stock indices in the U.S. surged on Tuesday (27th), with the Dow Jones Industrial Average jumping over 740 points, ending its four-day decline.
The Dow closed at 42,343.65 points, up 740.58 points or 1.78%; the S&P 500 settled at 5,921.54 points, gaining 118.72 points or 2.05%; the Nasdaq finished at 19,199.16 points, climbing 461.96 points or 2.47%; while the Philadelphia Semiconductor Index rose 158.71 points to 4,861.09 points, a 3.38% increase.
In the tech sector, Nvidia saw a 3.21% rise, closing at $135.5, while TSMC ADRs rose 2.97% to $197.68. Furthermore, the consumer confidence index increased to 98 in May, up from 85.7 in April, adding fuel to the stock market's rally.
