Wall Street is back on top of the world! The Nasdaq jumped nearly 1% to close at a record 20,340 points, while the Dow Jones and S&P 500 also posted solid gains. All this while President Donald Trump drops a bombshell — new tariffs on imports from at least six countries, including the Philippines and Iraq, after earlier announcing tariffs on South Korea and Japan. Is this the start of a trade war or just another show for investors?
Nvidia hit a market capitalization of $4 trillion, the first company ever to reach such a figure. Microsoft, Alphabet, and Meta Platforms also saw gains, showing that interest in tech giants and artificial intelligence remains sky-high.
Despite Trump threatening tariffs ranging from 20% to 40% set to take effect on August 1, the market seems to shrug off these threats. Investors believe a deal will be reached and deadlines extended. Ros Mayfield, an investment strategist, says the market accepts these threats until proven otherwise.
But wait, Trump didn’t stop there! He also announced a 50% tax on copper imports and threatened tariffs on pharmaceutical products. Is this just another flex or does he really plan to shake up global trade?
While the world wonders what will happen with trade wars, investors on Wall Street are smiling and buying stocks like there’s no tomorrow. Is this madness or genius? Only time will tell. What do you think — will these tariffs wreck the market or just be another episode in the “Trump trade adventures” saga? Drop a comment and let’s see who’s really crazy here!
