Technology stocks surged, with Apple and Nvidia rallying more than 10% after Trump announced a 90-day pause on tariffs for some countries.

Stocks skyrocketed across the board following a multi-day selloff spurred by an aggressive tariff plan from the White House. The tech-heavy Nasdaq Composite climbed more than 9% and was on pace for its best day since 2008, bouncing back after a rocky few trading sessions. Trump said he would raise tariffs on China to 125%.

Apple surged more than 12%, coming off its worst four-day trading stretch since 2000, which resulted in Microsoft unseating it as the most valuable company and a $774 billion drop in market value. Apple recovered its status Wednesday.

Tesla and Nvidia gained more than 15%, while Microsoft and Meta Platforms added about 8% each. Amazon and Alphabet rose more than 7%.

Semiconductor stocks that have struggled on fears that tariffs could stifle demand for many consumer products and slow the economy also jumped. While the sector has been excluded from the recent tariffs, levies could come in the future.

Advanced Micro Devices rocketed 16%, while Intel jumped more than 14%. On Semiconductor, Broadcom and Apple suppliers Qorvo and Skyworks Solutions were up more than 12% each. The VanEck Semiconductor ETF tracking the sector soared more than 10%.