CEO of Apple Tim Cook speaks at an event in 2022.
Jerod Harris | Getty Images Entertainment | Getty Images
The Nasdaq Composite climbed more than 12% for its second best day ever as markets clawed back after a rocky few trading sessions spurred by President Donald Trump’s wide sweeping tariffs.
The tech-heavy index posted its best session since January 2001, when it rallied more than 14%.
Stocks skyrocketed across the board Wednesday after Trump announced a 90-day pause on tariffs for some countries. It followed multiple days of selling after the president’s aggressive tariff plans rattled global markets. Trump, however, said he would raise tariffs on China to 125%.
Apple soared more than 15% for its best day since January 1998. The iPhone maker is 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.