NASDAQ boosted by tech shares

Most US stock indexes turned lower on Thursday — with the exception of the Nasdaq — as tech stocks rebounded and investors continued to track Trump’s latest tariff announcements.

Late Wednesday, former President Trump announced a 100% tariff on imported semiconductors, while exempting companies that “manufacture within the United States.”

Apple shares rose 2% after the iPhone maker unveiled plans to invest an additional $100 billion into American businesses and suppliers over the next four years — on top of a previous pledge in February to spend $500 billion.

Trump stated on Wednesday: “We’re going to impose very large tariffs on chips and semiconductors. But the good news for companies like Apple is: if you are manufacturing in the US — or fully committed to doing so — no tariffs will be imposed on you.”

Government data showed that seasonally adjusted initial jobless claims rose to 226,000 for the week ending August 2, an increase of 7,000 from the prior week and above analyst expectations of 221,000.

In market action, the Dow Jones Industrial Average fell 0.7% (or 320 points) to 43,870 by 16:41 GMT. The broader S&P 500 index slipped 0.1% (or 7 points) to 6,337, while the Nasdaq Composite rose 0.4% (or 86 points) to 21,255.