Nasdaq Composite Skyrockets 12% Wednesday: NVDIA (Nasdaq: NVDA), Meta (Nasdaq: META) Up More Than 10% Each

Wednesday saw the third-highest one-day gain since World War 2. Taking a look at indexes, you’d expect Wednesday’s performance to be a good market year rather than day! 

• Nasdaq Composite: +1,857.06 (12.16%)
• S&P 500: +474.13 (9.52%) 
• Dow Jones: +2,962.86 (+7.87%)

Let’s dive into the details on why today was so historic and what it means for the market moving forward. 

Trump Announces A Tariff Reversal 

At 1:18 p.m. Donald Trump posted a message on Truth Social that started a historic rally:

The post, which you can see above, said that Trump was issuing a 90-day pause on reciprocal tariffs for all countries aside from China. After the post, markets immediately zoomed skyward to a level close to where they were before Trump announced reciprocal tariffs on April 2nd. 

Does this mean that a trade war is averted? Not quite. While markets bounced back after days of furious selling, the Nasdaq is still off 15% from prices before Trump’s earlier tariffs went into effect. In addition, this is still a 90-day pause when Trump wants to negotiate individually with countries. There’s a chance in these negotiations that Trump could decide to go back to more punitive tariffs. 

However, for now, the risk of a deep recession has been lessened, which was enough to send stocks back to where they were trading last week. 

Stocks Seeing the Biggest Gains 

What stocks saw the biggest gains today? In short, ‘risk off’ stocks that saw the steepest selling generally saw the biggest gains. 

• NVIDIA (Nasdaq: NVDA): Had been among the biggest decliners in the Dow this year, but bounced back an incredible 18.72% today. NVIDIA also had ‘good news’ that the Trump Administration is mulling export restrictions on its H20 chips to China. 
• Meta Platforms (Nasdaq: META): Jumped 14.76%. Advertising stocks generally see steeper declines during a recession so Meta had fallen more than market averages. With today’s news decreasing the risk of a sharp recession, Meta bounced back more than the general market. 
• Tesla (Nasdaq: TSLA): Gained 22.69% on the day. Tesla may run into more headwinds if there’s a protracted trade war with China – which is a very large market for the company – but today investors overlooked that concern and bid up Tesla nearly double the Nasdaq’s gain. 

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