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Sector Performance: Tech and Banks Lead the Charge
Trump’s tariff pivot lifted broader market sentiment. Tech stocks led the charge, with Infineon Technologies soaring 14.97%, while SAP jumped 9.35%.
Banks also rallied on easing recession fears, with Deutsche Bank and Commerzbank rising 13.09% and 7.48%, respectively.
Auto stocks benefited from easing tariffs and hopes of a US-EU trade deal. Daimler Truck Holding led the gains, advancing 11.29%. BMW, Mercedes-Benz Group, Porsche, and Volkswagen also rallied at the open.
On April 9, CN Wire reported that the EU trade chief discussed parameters to lower tariffs with the US, boosting demand for export-linked stocks.
US Markets Soar on Trump’s Tariff U-Turn
US equity markets surged on Wednesday, April 9, driven by President Trump’s tariff announcements. The Nasdaq Composite Index soared 12.16%, while the Dow and the S&P 500 rallied 7.87% and 9.52%, respectively.
US CPI Report in Focus
Amid shifting sentiment toward US tariffs, market focus will now turn to the US CPI Report on Thursday, April 10. Economists forecast the annual inflation rate to ease from 2.8% in February to 2.6% in March.
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