Nasdaq Futures Turn Positive; Big Tech Stocks Gain With Tesla up 3%, TSMC up 2%, Nvidia up 1%
US stock futures pared losses. Nasdaq-100 futures turned positive, S&P 500 futures and Dow futures trimmed their losses to about 0.1%.
Big tech stocks rose in overnight trading. Tesla rose 3%; TSMC rose 2%; Broadcom, Palantir and Nvidia rose 1%; Apple rose 0.5%.
President Donald Trump's "reciprocal" tariffs on dozens of countries took effect on Wednesday, including massive 104% duties on Chinese goods, deepening his global trade war and spurring more widespread selling across financial markets.
China on Wednesday vowed to take resolute and effective measures to safeguard its rights and interests, after U.S. President Donald Trump's 104% duties on Chinese imports kicked in.
"The U.S. continues to abuse tariffs to pressure China, China firmly opposes this and will never accept this kind of bullying," Chinese foreign ministry spokesperson Lin Jian told a regular news conference.
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