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| US stock markets rise on Trump tariff rollback | US stock markets rise on Trump tariff rollback |
| (33 minutes later) | |
| Watch: US markets rise at open after turbulent week | Watch: US markets rise at open after turbulent week |
| US stock markets opened higher on Monday after the White House announced that imports of Chinese-made smartphones and some other electronics devices would be exempted from tariffs. | US stock markets opened higher on Monday after the White House announced that imports of Chinese-made smartphones and some other electronics devices would be exempted from tariffs. |
| The rollback, issued early on Saturday, may end up being short-lived after President Donald Trump said these goods were simply being moved into a different tariff group or "bucket". | The rollback, issued early on Saturday, may end up being short-lived after President Donald Trump said these goods were simply being moved into a different tariff group or "bucket". |
| The exemption - temporary or not - sent shares higher in Europe, with the UK's FTSE 100 rising by 2.2% while leading indexes in France and Germany both climbed. | The exemption - temporary or not - sent shares higher in Europe, with the UK's FTSE 100 rising by 2.2% while leading indexes in France and Germany both climbed. |
| Apple's share price rose sharply since as much as 80% of its iPhones intended for sale in the US are made in China. | Apple's share price rose sharply since as much as 80% of its iPhones intended for sale in the US are made in China. |
| Most imports from China to the US had faced a levy of 145% under Trump's new trade regime. Beijing responded with its own 125% tariffs on American products coming into China. | Most imports from China to the US had faced a levy of 145% under Trump's new trade regime. Beijing responded with its own 125% tariffs on American products coming into China. |
| The Trump administration is expected to announce tariffs on semiconductors on Monday, and smartphones, computers and other electronic devices exempted will fall into this category. | The Trump administration is expected to announce tariffs on semiconductors on Monday, and smartphones, computers and other electronic devices exempted will fall into this category. |
| The technology-heavy Nasdaq index rose by 2% in the first few minutes of trading on Monday. The S&P 500 added 1.2% while the Dow Jones Industrial Average gained 0.9%. | The technology-heavy Nasdaq index rose by 2% in the first few minutes of trading on Monday. The S&P 500 added 1.2% while the Dow Jones Industrial Average gained 0.9%. |
| Apple's share price rose by 2.9% while chip maker Nvidia was up by 1.2%. | Apple's share price rose by 2.9% while chip maker Nvidia was up by 1.2%. |
| Despite the partial recovery on Monday's opening, global stock markets are still lower than before Trump's "Liberation Day" tariff announcement on 2 April. | Despite the partial recovery on Monday's opening, global stock markets are still lower than before Trump's "Liberation Day" tariff announcement on 2 April. |
| Many US and European indexes suffered historic drops followed by record rises after Trump suspended many tariffs for 90 days. | Many US and European indexes suffered historic drops followed by record rises after Trump suspended many tariffs for 90 days. |
| However, the gains have not reversed the losses. The S&P 500 index is 3.8% down over the last month while the FTSE 100 is 5.7% down, the German Dax is 8.8% down, and the French Cac 40 is 9.3% down. | However, the gains have not reversed the losses. The S&P 500 index is 3.8% down over the last month while the FTSE 100 is 5.7% down, the German Dax is 8.8% down, and the French Cac 40 is 9.3% down. |
| "It looks like the tech exemption provided some relief, but these rebounds can be temporary," Sree Kochugovindan, a senior economist at aberdeen group, told the BBC. | |
| "There is still risk of more volatility given the lack of clarity during this 90-day tariff pause," she said. | |
| Meanwhile, the value of the US dollar continued to fall on Monday - down 0.7% against the British pound, having dropped 2.7% against the pound since Thursday. | Meanwhile, the value of the US dollar continued to fall on Monday - down 0.7% against the British pound, having dropped 2.7% against the pound since Thursday. |
| The bond market appeared stable on Monday, with a key interest rate on US government debt down to 4.4%. | The bond market appeared stable on Monday, with a key interest rate on US government debt down to 4.4%. |
| The rate spiked last Wednesday as investors worried about a possible recession, and sold US government bonds, which are usually seen as a safe investment. | The rate spiked last Wednesday as investors worried about a possible recession, and sold US government bonds, which are usually seen as a safe investment. |