Nvidia Stock Gains as Tariffs Take Effect. Cathie Wood Is Scooping Up Shares. -- Barrons.com

Dow Jones04-09

By Adam Clark

Nvidia was rising on Wednesday as the market was roiled by the imposition of tariffs. The chip maker's stock is attracting some bargain hunters, including portfolio manager Cathie Wood.

Nvidia shares were up 2.9% at $99.08 in morning trading on Wednesday. The stock fell 1.4% in Tuesday's session.

The stock was outperforming the wider market as President Donald Trump's sweeping duties, including a 104% tariff on Chinese goods, took effect on Wednesday. The S&P 500 index was up 0.3%.

Semiconductors have been excluded from Trump's tariff plans so far, but Nvidia still faces the risk of being caught up in escalating tensions between the U.S. and China. Beijing raised its own tariffs on U.S. imports to 84% on Wednesday.

Nvidia shares have fallen 28% this year so far through to Tuesday's close. That has attracted some to purchase the stock, including Cathie Wood's flagship ARK Innovation exchange-traded fund, which bought a total of 343,657 shares of Nvidia on Monday and Tuesday.

Wood's ARK Innovation ETF sold out of its position in Nvidia between November 2022 and January 2023, missing out on the majority of gains that propelled it past a $3 trillion market valuation.

Among other chip makers, Advanced Micro Devices was up 5.2% and Broadcom was gaining 2.4% in morning trading.

Write to Adam Clark at adam.clark@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

April 09, 2025 10:23 ET (14:23 GMT)

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The stock fell 1.4% in Tuesday's session. \n\n\n     The stock was outperforming the wider market as President Donald Trump's sweeping duties, including a 104% tariff on Chinese goods, took effect on Wednesday. The S&P 500 index was up 0.3%. \n\n\n     Semiconductors have been excluded from Trump's tariff plans so far, but Nvidia still faces the risk of being caught up in escalating tensions between the U.S. and China. Beijing raised its own tariffs on U.S. imports to 84% on Wednesday. \n\n\n     Nvidia shares have fallen 28% this year so far through to Tuesday's close. 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