The trade-war selloff took a breather on Tuesday, buoying Big Tech firms including Nvidia (NVDA), Tesla (TSLA), Meta (META), and Microsoft (MSFT), after a mixed day on Monday and two especially gnarly days last week wiped $1.8 trillion off the market value of leading tech stocks.
The moment’s shifting investor outlook is apparently wrapped up in hopes that deals will soon emerge from President Donald Trump’s tariff talks; investors chased the glimmer of light by boosting Nvidia stock by more than 5% as of 11:30 a.m. Eastern on Tuesday.
Around this time, Tesla was up roughly 4.5%, Microsoft was up 2.6%, Meta was up about 2.4%, Amazon (AMZN) was up 1.8%, and Apple (AAPL) was up 1.6%.
Regarding the president’s as-of-yet unrealized tariff deals, Treasury Secretary Scott Bessent said Tuesday that he thinks investors will see “see a couple of big trading partners do deals very quickly.”
Just yesterday, Big Tech’s recent losses had the stocks of Apple, Microsoft, and Google’s parent company Alphabet (GOOGL) approaching one-year lows. Apple, which relies on factories in China to build its iPhones, is among the tech giants most vulnerable to sweeping tariffs.
A temporary workaround for the Cupertino firm may include sending more of its India-built iPhones to the U.S. market to dodge the worst of the president’s tariffs. Temporarily exempt chipmakers and advertising giants (think: Nvidia and Meta) may fare better than hardware-focused companies such as Apple, but no tech giant is invulnerable to the fallout.
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