Stocks Rebound on Tariff Exemptions for Electronics

The Trump administration's announcement of tariff exemptions for certain electronics, including smartphones and computers, has positively impacted stocks such as Apple and Best Buy. Apple's stock rose by over 7% before stabilizing, driven by the news and a surge in iPhone shipments intended to preempt tariff impacts. Best Buy's shares also rebounded significantly, climbing by nearly 9.4% after suffering a year-to-date decline due to tariff concerns. These exemptions have temporarily alleviated investor anxiety across global tech markets, despite ongoing trade tensions which continue to pose risks. The broader stock market initially experienced gains but saw most of these erased. Analysts warn that although the exemptions provide temporary relief, the potential for future tariffs still presents downside risks for companies heavily reliant on Chinese imports.