From Yahoo Finance: 2025-04-23 10:34:00

Big Tech stocks, including Tesla and Amazon, rose as the Trump administration hinted at deescalation in the US-China trade war. Tesla surged 7%, Amazon and Meta rose 7% and 6%, respectively. Nvidia climbed over 5%, Apple jumped 3.5%, Google and Microsoft gained about 3%.

President Trump softened his tone on China, suggesting a potential reprieve from 145% “reciprocal” tariffs on Chinese imports. He called the current rate “too high” and plans to be “very nice” to China in trade talks. Treasury Secretary Scott Bessent called the US-China trade war unsustainable.

A potential reprieve from Trump’s aggressive trade policy would benefit tech companies heavily reliant on China for supply chain. Some 90% of Apple iPhones are made in China, accounting for 17% of Apple’s revenue in 2024. Tesla sources parts from China, heightening trade war could impact its growth.

30% of goods sold on Amazon are from China, while Chinese advertisers accounted for 14% of Amazon advertising spending in 2024. Chinese advertisers also make up a significant portion of Meta and Google’s ad spending. DA Davidson analyst estimates that China represents up to 40% of Nvidia’s end customers.

Trump’s announcement of steep reciprocal tariffs on US trading partners led to global market turmoil. He enacted a 10% tariff on all global imports and a 145% duty on Chinese imports. The reciprocal tariffs were paused for 90 days, with the exception of the duty on Chinese imports. 1. The stock market experienced a significant drop today, with the Dow Jones Industrial Average falling 500 points due to concerns over rising inflation and interest rates. This marked the biggest decline in over a month.

2. The CDC announced that the Johnson & Johnson COVID-19 vaccine is safe to resume distribution after a brief pause to investigate reports of blood clots. The vaccine will come with a warning label about the rare occurrence of blood clotting.

3. The Biden administration unveiled a $2 trillion infrastructure plan aimed at rebuilding roads, bridges, and transit systems while also addressing climate change and creating jobs. The plan includes investments in clean energy and broadband internet access.

4. Amazon workers in Alabama voted against unionizing, with the majority rejecting the possibility of joining the Retail, Wholesale and Department Store Union. The vote was closely watched as it could have set a precedent for unionization efforts at other Amazon facilities.

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