14 April 2025 - Markets just got a jolt of adrenalinethanks to Trump's surprise tariff twist. Stocks across Asia and Europe surged on Monday after the U.S. temporarily spared smartphones, semiconductors, and other consumer tech from its brutal new tariff list. The rally was swift. Hong Kong's Hang Seng soared 2.4%, Germany's DAX popped over 2%, and Dow (DIA) futures jumped 447 points. In the U.S., Tesla (NASDAQ:TSLA), Apple (NASDAQ:AAPL), and Nvidia (NASDAQ:NVDA) lit up the premarket screen, with Apple climbing 6.4% at 8.53pm on hopes that the iPhone wouldn't get caught in the tariff crossfireat least for now.

But don't get too comfortable. Trump wasted no time clarifying that the exemptions may not be permanent, it could still be reversed. He added that the spared items are simply getting moved to a different tariff bucketand could still be hit under national security reviews. Commerce Secretary Howard Lutnick added more fuel to the fire, saying everything from semiconductors to the entire electronics supply chain is still under scrutiny. Translation? Uncertainty is back on the table. And markets know it.

Yes, last week saw one of the wildest whiplash rallies since WWIIpowered by a 90-day pause on some tariffs and a bit of short-covering magic. But underneath the euphoria, the S&P 500 is still down 5.4% from the tariff shock, and the so-called Magnificent Seven tech names are still licking their wounds. Apple alone lost $640 billion in market cap over three brutal sessions. Monday's rebound feels goodbut in this market, clarity beats relief. And right now, we've got neither.