[New York Stock Exchange] Trump Tariff War Resumption Causes Decline... Nvidia Hits Record High for Fourth Day

[Financial News]  


The New York Stock Exchange halted its record high streak on the 11th (local time).

Donald Trump, the President of the United States, started by sending a trade letter on the 7th imposing 25% reciprocal tariffs on South Korea and Japan, and on the 10th, he announced a 35% reciprocal tariff on Canada, which dampened investor sentiment.

The Nasdaq, which had broken record highs from the 9th to the 10th, and the Standard & Poor's (S&P) 500, which set a new record high on the 10th, turned downward along with the Dow Jones Industrial Average.

On the other hand, Nvidia, the AI emperor stock, continued to break record high stock prices for four consecutive days.

Nvidia, which achieved the feat of being the first listed company to record a market capitalization of 4 trillion dollars based on the closing price the previous day, began solidifying its market capitalization of 4 trillion dollars.

Thanks to this, Jensen Huang, the co-founder and CEO of Nvidia and its largest individual shareholder, surpassed Warren Buffett, the chairman and CEO of Berkshire Hathaway, known as the "Oracle of Omaha," to become the world's 7th richest person.





The New York Stock Exchange, which resumed its record high streak after the Independence Day holiday, one of the biggest holidays in the US, halted its upward trend on this weekend.

Concerns arose that the resumption of the tariff war by President Trump would ultimately stimulate US inflation and hinder the Federal Reserve's interest rate cuts.

Jamie Dimon, CEO of JPMorgan, warned in a speech in Ireland the previous day that there is a 40-50% chance that the Federal Reserve will raise interest rates in the second half of the year.

Amid the tariff war and retreating expectations for interest rate cuts, the three major indices fell sharply.

The Dow fell 279.13 points (0.63%) to 44,371.51 compared to the previous session, and the S&P 500, which hit a record high the previous day, fell 20.71 points (0.33%) to close at 6,259.75.

The Nasdaq also halted its record high streak over two days, falling 45.14 points (0.22%) to close at 20,585.53. The Nasdaq continued its upward trend until the late session, close to breaking additional record highs, but turned downward at the last minute.

All three major indices fell on a weekly basis as well.

The Dow fell by more than 1%, while the S&P 500 and Nasdaq fell by 0.3% and 0.0%, respectively.





Nvidia continued its record high streak despite the market downturn.

Nvidia maintained its upward trend despite a disclosure that CEO Huang sold some of his shares.

Nvidia surged to 167.89 dollars, up 3.79 dollars (2.31%) during the day, but later narrowed its gains. It eventually closed at 164.92 dollars, up 0.82 dollars (0.50%).

However, Nvidia continued to set new record highs for four consecutive days since the 8th, increasing its market capitalization to 4.024 trillion dollars.

Previously, Nvidia became the first company to exceed a market capitalization of 4 trillion dollars during the session on the 9th, opening the door to the 4 trillion dollar club, and exceeded a market capitalization of 4 trillion dollars based on the closing price on the 10th.





While Nvidia continued to break record highs for four consecutive days, the rest of the M7 big tech showed mixed trends.

Tesla succeeded in rebounding, closing at 313.51 dollars, up 3.64 dollars (1.17%), and Alphabet rose 2.61 dollars (1.46%) to close at 191.31 dollars.

Microsoft (MS) also rose 1.84 dollars (0.37%) to close at 503.32 dollars, and Amazon rose 2.76 dollars (1.24%) to close at 225.02 dollars.

However, Apple fell 1.25 dollars (0.59%) to 211.16 dollars, and Meta Platforms fell 9.73 dollars (1.34%) to 717.51 dollars.





Quantum computer stocks fell sharply across the board.

The leading stock, IonQ, plummeted 4.12 dollars (8.97%) to 41.81 dollars, and Quantum Computing plunged 1.75 dollars (9.12%) to 17.43 dollars.

D-Wave fell 1.20 dollars (7.50%) to 14.81 dollars, and Rigetti fell 0.85 dollars (6.52%) to 12.18 dollars.

dympna@fnnews.com Song Kyung-jae Reporter