Global markets today: Asian markets showed a mixed trend after U.S. President Donald Trump announced plans to impose a 100 per cent tariff on semiconductor and chip imports, with an exemption for companies manufacturing within the United States.
However, the criteria for how much production must occur in the U.S. to qualify for the exemption were not immediately specified.
“We’re going to be putting a very large tariff on chips and semiconductors,” he said, speaking in the Oval Office on Wednesday afternoon.
Japan’s Nikkei 225 remained largely unchanged, while the broader Topix index edged up by 0.19 per cent.
In South Korea, the Kospi slipped 0.12 per cent, and the Kosdaq held steady with no change. Meanwhile, Australia’s S&P/ASX 200 index also traded flat.
On Wednesday, U.S. President Donald Trump announced a new 25 per cent tariff on Indian products, attributing the decision to New Delhi’s ongoing purchases of Russian oil.
U.S. markets today
U.S. stock markets closed higher on Wednesday, with the Nasdaq leading the gains with a rise of over 1%, driven by a surge in Apple shares following news of its upcoming domestic manufacturing commitment, along with positive earnings reports from several companies.
The Dow Jones Industrial Average climbed 81.38 points, or 0.18 per cent, to 44,193.12. The S&P 500 advanced 45.87 points, or 0.73 per cent, to 6,345.06, while the Nasdaq Composite rose 252.87 points, or 1.21 per cent, to 21,169.42.
Apple shares surged 5.1 per cent, delivering the largest lift to all three major indexes after a White House official revealed the company’s plan to announce a $100-billion investment in U.S.-based manufacturing.
Additionally, McDonald’s shares climbed 3 per cent after its value-focused menu helped boost global sales beyond expectations.
(With inputs from agencies)
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