Markets React to Tariffs and Fed Nomination as Tech Stocks Show Resilience

US stocks closed mixed on Thursday as President Trump's sweeping tariffs took effect, targeting imports from nearly 200 countries with duties ranging from 10% to 50%. The tech-heavy Nasdaq Composite ROSE 0.4% to a record high, buoyed by Trump's暗示 of potential exemptions for semiconductor tariffs that could benefit Big Tech. The S&P 500 ended flat while the Dow Jones Industrial Average slipped 0.5%.

Market sentiment found some support after TRUMP nominated Stephen Miran, chairman of the Council of Economic Advisors, to the Federal Reserve Board. The nomination comes as the average effective tariff rate is projected to jump to 18.6%, the highest since 1933, according to Yale Budget Lab analysis.

Apple shares gained following an announcement of a $100 billion US investment that includes manufacturing iPhone components in Kentucky. The tech sector's outperformance highlights the market's bifurcated response to trade policy developments, with investors rewarding companies perceived as potential beneficiaries of tariff carveouts.