US stocks closed higher on Wednesday as investors weighed the impact of expanding tariffs on corporate earnings and future Federal Reserve policy. The S&P 500 rose 0.6%, snapping a two-day losing streak, while the Dow added 217 points and the Nasdaq 100 climbed 0.7% after Nvidia briefly touched a $4 trillion valuation. Minutes from the Fed’s June meeting revealed that officials viewed the newly announced tariffs as inflationary, leading them to hold off on resuming interest rate cuts earlier this year. The release came shortly after President Trump expanded the list of countries facing US tariffs starting August 1, including the Philippines, Iraq, and potentially Brazil. This followed earlier announcements of a 50% tariff on copper, as well as plans for levies on semiconductors and a 200% duty on pharmaceuticals after a grace period. Tech stocks led the day’s gains, with Nvidia (1.8%), Broadcom (2.2%), Alphabet (1.4%), and Meta (1.7%) all closing firmly higher.