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As on : 15-Apr-2025

Market Commentary - Foreign Markets
15-Apr-2025 10:28

Wall Street Gains as Tech Tariff Exclusions Spark Rally, Global Markets Surge

The Dow jumped 312.08 points (0.8%) to 40,524.79, the Nasdaq rose 107.03 points (0.6%) to 16,831.48 and the S&P 500 climbed 42.61 points (0.8%) to 5,405.07.

Wall Street rose after US officials said some tech products like phones and chips would be excluded from tariffs but Trump denied any exceptions, saying they're just moved to a different category. He warned China remains a key target and pledged to review the entire electronics supply chain in upcoming tariff investigations.

Biotech stocks substantially moved upwards, resulting in a 2.5% surge by the NYSE Arca Biotechnology Index. Commercial real estate showed considerable strength, as reflected by the 2.1% jump by the Dow Jones U.S. Commercial Real Estate Index. Pharmaceutical, computer hardware and utilities stocks too were significantly strong.

Asia-Pacific stocks moved mostly higher. Japan's Nikkei 225 Index jumped by 1.2% while Hong Kong's Hang Seng Index surged by 2.4%. The major European markets significantly moved upwards. The German DAX Index spiked by 2.9%, the French CAC 40 Index shot up by 2.4% and the U.K.'s FTSE 100 Index jumped by 2.1%.

In the bond market, treasuries regained ground after moving sharply lower last week. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, tumbled by 12.9 bps to 4.36%.

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