U.S. Markets Waver as Early Tech Surge Stalls

U.S. stock markets kicked off the week on a high note, buoyed by a fresh round of temporary tariff reliefs. The Dow Jones Industrial Average initially surged over 330 points, with the S&P 500 and Nasdaq gaining about 50 and 150 points respectively. This uptick followed President Donald Trump's announcement on Friday to delay tariffs on a range of electronics, including smartphones, computers, and semiconductor parts. Despite the early rally, momentum faded later in the session as tech stocks lost steam. Adding to the uncertainty, Commerce Secretary Howard Lutnick emphasized that the tariff exemptions are only temporary, casting doubt on the long-term trade outlook. Meanwhile, bond markets responded with the 10-year Treasury yield slipping to 4.4%, after touching 4.55% late last week.