Nasdaq Rallies as Nvidia Breaks $4T Valuation Barrier Amid Tech Surge
The Nasdaq Composite outperformed major indices with a 0.65% gain as Nvidia's 2% rally propelled it to a historic $4 trillion valuation, surpassing Apple and Microsoft. The chipmaker's dominance in AI hardware fueled the ascent, though broader tech gains were tempered by trade tensions.
President Trump's fresh tariff threats targeting 20 nations—including 20-30% levies on the Philippines, Iraq, Moldova, and Algeria—cast uncertainty over markets. The measures, effective August 1 absent new trade deals, mark an escalation in protectionist policies that could Ripple across global supply chains.