Following yet another tech bounce on Wall Street, stock markets in Europe and Asia saw a majority of gains Tuesday. Traders also evaluated Donald Trump’s tariff plans as it was reported that he would adopt a more targeted strategy than previously indicated.
Following a slow December, US stocks have gotten off to a spectacular start this year, with tech and semiconductors taking center stage, according to Matt Britzman, senior equity analyst at Hargreaves Lansdown. In addition, he mentioned “tariff optimism despite mixed signals.”
According to the Washington Post, Trump’s advisers were considering using a more limited definition than the president-elect had previously suggested: imposing tariffs solely on items in specific vital industries.
The US Defense Department added battery producer CATL and digital giant Tencent to a list of businesses it claims are connected to Beijing’s military on Tuesday, ahead of his inauguration on January 20. While Tencent’s stock fell more than 7% in Hong Kong, China accused Washington of “unjustified suppression.” The stock of CATL fell 5.2%.
With a favorable outlook, shares of US chip designer Nvidia surged Monday, bringing the company’s market worth to almost $3.6 trillion. As official figures revealed that eurozone inflation rose in December to 2.4%, the euro appreciated versus the dollar during Tuesday’s trading.
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