Stocks Dip as Trump Extends China Tariff Deadline, Tech Shows Resilience
Equities retreated Monday as markets digested a 90-day extension of U.S. tariffs on Chinese goods and awaited critical inflation data. The Dow slid 0.4%, with the S&P 500 and Nasdaq shedding 0.2% and 0.3% respectively after paring tech-led gains.
President Trump's tariff delay until November 9 came as trade negotiations continue, temporarily averting escalation. Tech outperformed, buoyed by Apple's best week since 2020 following WHITE House engagement and Nvidia's record close amid tariff exemptions for certain chips.
In a notable concession, TRUMP approved Nvidia's continued sales of its H20 processor to China in exchange for revenue sharing. "This maintains existing technology flows," the president noted, while drawing a line at next-generation chips.
