Trump Doesn't Fire Powell, U.S. Stocks Surge by 1065 Points
U.S. President Donald Trump has recently made contradictory statements. He earlier criticized Federal Reserve Chairman Jerome Powell and called for him to 'get out,' but on the 22nd, he stated he has 'no intention' of firing Powell, also mentioning that tariffs on China are too high and will be significantly reduced, signaling a friendlier approach towards Beijing.
As a result of this news, U.S. stocks rallied on the 23rd, with all four major indices seeing significant gains. The Dow Jones Industrial Average surged by 1,065 points, a 2.72% increase, closing at 40,252.82 points; the S&P 500 rose by 167.01 points, a 3.16% increase to 5,454.77 points; the Nasdaq Composite jumped 662.84 points, up 4.07% to 16,963.26 points; and the Philadelphia Semiconductor Index climbed by 217.58 points, a 5.68% increase to 4,049.62 points. Notably, NVIDIA's stock rose by 4.99%, reaching $103.82, while TSMC's ADR increased by 4.86%, closing at $158.76.
