Tech Stocks Surge Amidst Trade Tension Relief

Wall Street indices rose as tech stocks gained following U.S. exemptions on new tariffs for smartphones and computers, though semiconductor levies loom. The Dow, S&P 500, and Nasdaq showed significant growth. Analysts suggest these exemptions respond to consumer pressure, amidst ongoing U.S.-China trade tensions affecting markets.

Wall Street experienced a boost on Monday, with main indexes climbing thanks to rising tech stocks. This surge followed an announcement from the White House exempting smartphones and computers from new tariffs on Chinese imports, though levies on semiconductors are anticipated soon.

The exemption decision, disclosed on Friday, was underscored by President Donald Trump's promise to reveal semiconductor tariff rates later in the week. Despite the temporary relief for tech products, tariffs will apply in about two months, according to Commerce Secretary Howard Lutnick.

The Dow Jones rose by 416.38 points, or 1.04%, the S&P 500 gained 71.87 points, or 1.34%, and the Nasdaq climbed 281.52 points, or 1.68%. Leading tech stocks, particularly Apple, Apple saw a 5.4% increase, and major semiconductor stocks also advanced.

(With inputs from agencies.)