Tech stocks, including Apple, saw gains after being exempted from recent tariffs. Apple captured 19% of global smartphone sales in Q1, overtaking Samsung. However, uncertainties remain as officials suggest these exemptions might be temporary.

Crude oil prices have fallen sharply, with West Texas Intermediate (WTI) dropping below $60 per barrel, reaching as low as $58.95—the lowest since 2021. Brent crude also declined by 3.7% to $63.15 per barrel. These drops are attributed to fears of a possible recession and decreased demand due to escalating trade tensions.