Jan 12, 2026 · QQQ/SPY Market Review · 56 headlines
QQQ opened 0.66% lower and finished down 0.20%. SPY opened down 0.50% and ended nearly flat with a 0.03% decline, leaving SPY ahead by 0.17 percentage points. Trump announced an immediate 25% U.S. tariff on countries doing business with Iran, while the administration was reported to be nearing a Taiwan trade deal that would lower tariffs and bring additional TSMC manufacturing to the United States. Rick Rieder said the Fed needed to lower the policy rate to 3%. Apple and Google announced a multi-year Gemini collaboration, and Meta launched Meta Compute with plans for tens of gigawatts this decade. Trump also pressed credit-card companies to implement a 10% interest-rate cap by January 20.
Published
Trump announced an immediate 25% tariff on countries doing business with Iran. Another report said a Taiwan deal would lower tariffs and bring more TSMC plants to the United States. In the next 15 minutes, QQQ was flat and SPY rose 0.01% after Iran, while QQQ fell 0.05% and SPY lost 0.02% after Taiwan.
Apple and Google announced a multi-year Gemini collaboration. Meta launched Meta Compute with plans for tens of gigawatts this decade. In the next 15 minutes, QQQ and SPY fell 0.04% and 0.03% after the first update, then rose 0.03% and 0.02% after the second.
Rieder stressed Fed independence and said the policy rate needed to fall to 3%. In the next 15 minutes, QQQ and SPY each moved about 0.04% lower, similar to their earlier drift and with no nearby headlines.
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