Dow Surges 515 Points as Trump Cuts India Tariffs; TSMC ADR Rises 3.27%

U.S. stocks rebounded sharply on February 2, 2026, with the Dow Jones Industrial Average jumping 515.19 points (1.05%) to 49,407.66, as President Trump announced a trade deal lowering Indian import tariffs from 25% to 18% and removing retaliatory U.S. duties. The S&P 500 rose 0.54%, the Nasdaq gained 0.56%, and the Philadelphia Semiconductor Index surged 1.70%. Tech shares showed mixed results: Apple climbed 4.06%, while Meta and Microsoft fell. Semiconductor leaders AMD and Micron jumped 4.03% and 5.52%, respectively, though Nvidia dropped 2.89% amid reports of a stalled $100 billion OpenAI investment. TSMC’s ADR rose 3.27%. Markets also digested a partial U.S. government shutdown, which may delay the upcoming nonfarm payrolls report. Analysts cited strong earnings and supportive fiscal policy as key market drivers despite elevated valuations.