Tesla, Nvidia Lead Tech Surge as Markets Rally on Tariff Pause

Tesla, Nvidia Lead Tech Surge as Markets Rally on Tariff Pause

Markets rebounded sharply on Wednesday, driven by tech giants as President Trump announced a 90-day pause on most recently announced tariffs, easing investor concerns and sparking a broad-based rally.

Tesla (TSLA) led the charge with a massive 20% jump, making it one of the best performers on both the S&P 500 and Nasdaq. It was closely followed by Nvidia (NVDA), which surged over 18%, topping the Dow Jones Industrial Average gainers.

The broader market also saw impressive gains:

• S&P 500 closed up 9.5%

• Dow Jones rose 8%

• Nasdaq Composite surged 12%

Semiconductor stocks were major contributors in to the rally. Names like Broadcom (AVGO), AMD, Micron (MU), and Applied Materials (AMAT) pushed the PHLX Semiconductor Index (SOX) up nearly 19%.

Other members of the "Magnificent Seven" also posted strong gains:

• Meta Platforms (META): +15%

• Amazon (AMZN): +12%

• Microsoft (MSFT): +10%

• Alphabet (GOOGL): +10%

• Apple (AAPL) rebounded over 15%, recovering from its worst four-day performance since 2000.

Adding to positive sentiment, the U.S. Treasury's $39 billion 10-year note auction came in better than expected, with a high yield of 4.435%, signaling solid investor demand.

Looking ahead, investors are eyeing earnings season, with major U.S. banks like JPMorgan Chase (JPM) set to report Q1 results on Friday, offering more insight into how companies are weathering economic headwinds.

On the market breadth:

• NYSE: Advancing stocks outnumbered decliners by 6.4-to-1.

• Nasdaq: 3,841 gainers vs. 684 decliners (5.62-to-1 ratio).

• S&P 500: 1 new 52-week high vs. 100 new lows.

• Nasdaq Composite: 12 new highs vs. 646 new lows.

It was also a record-breaking day for trading volume, with 30.5 billion shares traded across U.S. exchanges — far above the 20-session average of 18.06 billion.