Nvidia's $4-Trillion Valuation Boosts Stocks, Euro Slips

Major stock indexes rose on Wednesday as Nvidia briefly reached a $4-trillion valuation, while the euro fell. U.S. President Donald Trump issued final tariff notices to seven minor trading partners. Bitcoin hit an all-time high near $112,000. U.S. stocks rose after Fed minutes showed concerns about interest rates and inflation from import taxes.

Trump expanded the trade war by imposing a 50% tariff on imported copper, causing U.S. copper prices to soar and U.S. stock prices to drop. Copper futures widened their premium to the London benchmark. Trump warned 14 nations of higher tariffs by August 1. Investors are cautiously optimistic amid trade uncertainties.

Nvidia shares rose, hitting a $4-trillion market cap briefly, before closing at $3.9 trillion. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all saw gains. MSCI’s global stock index and the pan-European STOXX 600 also rose. The euro slipped as investors assessed U.S. tariff exemptions. The dollar index remains down since Trump’s tariff announcement.

The New Zealand dollar rose slightly after the central bank kept interest rates steady. U.S. Treasury yields fell after strong demand for 10-year notes. Oil prices remained stable amid strong U.S. gasoline demand and Red Sea shipping attacks. Brent crude settled at $70.19 a barrel, while U.S. West Texas Intermediate crude settled at $68.38.

Read more at Yahoo Finance: Stocks climb as Nvidia hits $4-trillion valuation; euro inches lower