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Tesla (TSLA), a member of the Magnificent Seven, saw its shares rise by more than 20% on Wednesday afternoon. This was a relief rally that followed President Trump’s announcement of a 90-day pause in most tariffs announced last week.
The tech sector led the surge, as Tesla’s climb made it one of the top-performing stocks on the S&P 500 and Nasdaq, along with AI chipmaker Nvidia (NVDA), which topped the Dow Jones Industrial Average gainers with its shares up over 18%.
Overall, the S&P 500 gained 9.5% at Wednesday's close, the Dow advanced 8%, and the tech-heavy Nasdaq rose by 12%.
The PHLX Semiconductor Index SOX (also known as the PHLX Semiconductor Index) rose by close to 19%.
Meta Platforms (META), Amazon (AMZN), Microsoft, Alphabet (GOOGL), and Microsoft parent Alphabet (MSFT), all rose in value by around 10%.
Apple (AAPL), after its worst four day stretch since 2000, saw a 15% increase in shares. (Read Investopedia’s live coverage of the Wednesday’s market activity here.)
