Tech leads Wall Street higher as tariff delay sparks rally
Updated : August 14, 2019 06:30 AM IST
Tech stocks, headed up by Apple Inc, led all three major US indexes into the black following the announcement, which calmed fears over the US-China trade war and growing signs of imminent recession.
US Trade Representative Robert Lighthizer said the United States would hold off on imposing additional 10 percent tariffs on key Chinese goods, including laptops and cellphones, tariffs that were originally set to go into effect next month.
The Dow Jones Industrial Average rose 372.54 points, or 1.44 percent, to 26,279.91, the S&P 500 gained 42.48 points, or 1.47 percent, to 2,926.23 and the Nasdaq Composite added 152.95 points, or 1.95 percent, to 8,016.36.
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more