Apple soars. Meta slumps. Tariffs shift. And the markets? On edge.

Welcome to Monday’s Market Mayhem

The Dow Jones Industrial Average surged 421 points in a dizzying trading session today, clawing its way to a 1% gain.

Not to be outdone, the Nasdaq Composite and S&P 500 each jumped 1% and 1.1%, respectively.

Sounds promising, right? Don’t pop your champagne just yet. Because behind the green arrows was a market swinging like a wrecking ball, bullish in the morning, panicked by afternoon.

At one point, the Dow soared over 500 points. The Nasdaq flirted with a wild 2.5% gain. But this wasn’t confidence, it was confusion. The root of the chaos? Trump’s tariffs.

Trump’s Tech Exemption Sparks Relief, Then Reversal

Markets initially cheered a shock exemption on smartphones, computers, and key tech components from President Trump’s aggressive new tariff plan.

The guidance, quietly issued late Friday, April 11, 2025, signaled relief for big companies like Apple and Dell.

Apple shares popped 3.5%. Dell? Up more than 4%. Traders may have thought, “Maybe the worst is behind us.”

Spoiler alert: It’s not.

By Sunday, April 13, 2025, Trump and Commerce Secretary Howard Lutnick did a complete about-face.

In Trump’s own words via Truth Social, these devices are simply being shuffled into “a different Tariff ‘bucket’” and still face a punishing 20% fentanyl tariff.

Tech Stocks Rally With a Shaky Foundation

Despite Apple’s big day, the broader tech space wasn’t throwing a party.

The Technology Select Sector SPDR Fund (XLK) barely moved up less than 1%. Why? Heavyweights like Meta and Nvidia were sliding.

This isn’t a victory lap, it is a temporary breather in the middle of a storm.

Remember the “Liberation Day” Disaster?

Yeah, we’re still there.

Let’s not forget that just a week ago, markets were rocked by Trump’s “Liberation Day” tariff announcement.

The VIX volatility index exploded above 50 on Thursday. Wednesday saw the third-biggest one-day rally since World War II, only to be followed by a gut-wrenching pullback.

It was one of the most volatile weeks in Wall Street history, and today’s (April 14) bounce is happening in that same rollercoaster environment.

Despite Monday’s rally, the S&P 500 is still down 3.8% since the reciprocal tariffs were first introduced. The Nasdaq is off 4.4%. The Dow has dropped 4.1%.

So, investors are right to be jittery.

In two words, brace yourself.