Stocks Climb as Traders Brush Aside Tariff Threats: Markets Wrap
- Trump plans to impose 25% tariffs on steel, aluminum imports
- Goldman says hedge funds turn bullish on US stocks, buy tech
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Stocks kicked off the week with gains, rebounding after a slide driven by concerns over inflation and US tariff threats. The dollar strengthened and gold hit a record high.
The advance in equities was led by the market’s most-influential group - technology - with the Nasdaq 100 up over 1% Monday. Nvidia Corp. extended a five-day surge to about 15% while Meta Platforms Inc. rose for a 16th consecutive session. Materials producers were also on the spotlight amid President Donald Trump’s plans to impose 25% tariffs on all US imports of steel and aluminum. United States Steel Corp. and Alcoa Corp. climbed at least 2.2%.