Following President Trump’s announcement of a 90-day tariff suspension, excluding China, U.S. stock markets experienced a dramatic surge, with Nvidia’s stock price skyrocketing by nearly 19%.
On Wednesday, Nvidia’s shares soared 18.72% to close at $114.33, boosting its market capitalization to $2.79 trillion.
There were no specific Nvidia-related catalysts that day. The company’s stock appears to have been swept up in the broader market rally.
Trump stated on his social media, “I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately.” He added, however, that tariffs on China will be increased to 125%.
This news sparked a Wall Street frenzy, with the Dow Jones Industrial Average surging 7.87%, the S&P 500 jumping 9.52%, and the Nasdaq Composite soaring 12.16%. Nvidia rode this wave, with its stock climbing nearly 19%.
Despite this impressive surge, Nvidia’s stock is still down 14.86% year-to-date.