Dow Rises 400 Points as Tech Stocks Rally on Tariff Exemptions

U.S. stock markets opened strongly on Monday, with the Dow Jones Industrial Average up nearly 400 points, driven by President Trump's unexpected tariff exemptions for key technology products, including smartphones and semiconductors. This decision has led to a surge in stocks like Apple, which rose over 6%, and Nvidia, which gained 3.1%. Despite the initial optimism, uncertainty remains as Commerce Secretary Howard Lutnick indicated that these exemptions might be temporary, with new sector-specific tariffs expected soon. Trump's comments about reclassifying certain tariffs have also contributed to market volatility, as investors remain cautious amid a chaotic trade environment. Analysts have noted that while the market has seen robust gains recently, the underlying volatility suggests ongoing investor apprehension regarding trade policies. Major banks are set to report earnings soon, which could provide further insights into the economic impact of these tariff changes.