Following US President Donald Trump’s announcement of massive investment plans for artificial intelligence infrastructure, technology stocks surged globally on Wednesday, while the dollar fell to a two-week low as tariffs were postponed.
Trump declared late Tuesday that Oracle, SoftBank, and OpenAI would establish a joint venture and invest up to $500 billion to construct data AI centres. SoftBank’s stock rose 10.6% in Tokyo, and Oracle’s stock increased 8.5% in early Wall Street trading, following a 7.2% increase the day before.
As a result, the tech-heavy Nasdaq gained 1%. Early trading saw a 0.5% increase in the benchmark S&P 500. Despite Trump’s repeated promises to impose new import taxes on the European Union, European stocks also rose on Wednesday.
However, Europe was sighing with relief since, as he had promised throughout his campaign, many foreign capitalists and investors had anticipated that tariffs would be imposed on Trump’s first day in office. Europe has a stay of execution, and Trump appears to be more focused at home,” Eddie Kennedy, head of Marlborough’s bespoke discretionary fund management, said.
Therefore, I believe a small rally makes sense.” The pan-continental STOXX 600 increased by 0.7% to reach a record intraday high. Additionally, blue-chip stocks in London and Frankfurt reached fresh intraday highs of 0.1% and 1.1%, respectively.
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