The stock market opened mixed as the Nasdaq Composite rose amidst declining performance from the Dow Jones and S&P 500. Tariff war uncertainty between the U.S. and China has created market volatility, leading to a decrease in stocks as Washington and Beijing exchanged blame over a broken tariff pause agreement. Despite this, tech stocks have seen substantial gains, with the Nasdaq climbing over 9% in May, driven by leaders like Nvidia and Microsoft. Meanwhile, steel stocks surged following President Trump's increased tariffs on steel imports.
Steel stocks are a bright spot after President Trump revealed a doubling of tariffs on steel imports to 50%, benefiting U.S. steelmakers.
Traders and investors are feeling tariff-war uncertainty after Washington, D.C. and Beijing blamed one another for breaking a tariff pause agreement.
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