Stocks are spiking on news that U.S. will delay tariffs on Chinese cellphones, laptops, video games [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
Stocks are spiking on news that U.S. will delay tariffs on Chinese cellphones, laptops, video games Dow up almost 400 points U.S. stocks surged almost 2 per cent on Tuesday as the Trump administration said it would delay 10 per cent tariffs on some Chinese products, including laptops and cell phones, driving a 5 per cent surge in shares in iPhone maker Apple Inc. The Office of the U.S. Trade Representative said tariffs would also be delayed until Dec. 15 on “computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing.” That eased the concerns of a trade war-driven slowdown in global growth that have dominated two weeks of volatile trading on Wall Street, since President Donald Trump announced a new round of tariffs on Aug. 1. A 4.8 per cent jump in Apple shares and a rise in chip stocks pushed the technology sector, traditionally among the most sensitive to trade issues, 2.33 per cent higher. The Philadelphia chip index rose 3.16 per cen
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