US STOCKS-Apple leads Wall Street rally as U.S. delays on tariffs [Reuters]
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Source: Reuters
Apple leads Wall Street rally as U.S. delays on tariffs - Reuters 4 Min Read (Reuters) - U.S. stocks surged more than 1.5% on Tuesday after the Trump administration said it would delay 10% tariffs on some Chinese products, including laptops and cell phones, driving a 4% rally in shares of iPhone maker Apple Inc. In a statement, the administration also excluded video game consoles and certain items of footwear and clothing from the 10% rate, which had been scheduled to start next month, an abrupt pull-back from its hardline stance on trade. That eased the fears of a recession driven by the protracted trade war that has dominated trading on Wall Street this year and spurred a bout of extreme volatility following President Donald Trump’s announcement of a new round of tariffs on Aug. 1. “The escalation of the U.S. China trade war has been an overhang ... and the fact that we have got a bit of a reprieve on that is putting a bit of optimism into markets,” said Art Hogan, chief market stra
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AAPL
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