CEO of Apple Tim Cook speaks at an event in 2022.
Jerod Harris | Getty Images Entertainment | Getty Images
Technology stocks surged Tuesday and Apple rallied more than 12%Tuesday after Trump announced a 90-day pause on tariffs for some countries. The iPhone maker is coming off its worst four-day losing stretch since 2000.
Stocks skyrocketed across the board following a multi-day selloff spurred by and aggressive tariff plan from the White House. Apple is coming off its worst four trading days that resulted in Microsoft unseating it as the most valuable company and a $774 billion drop in market value. Apple recovered its status Tuesday.
The tech-heavy Nasdaq Composite climbed more than 8% following the news, bouncing back after a rocky few trading sessions. Trump said Tuesday he would raise the tariff on China to 125%. Last week, the “Magnificent Seven” stocks shed $1.8 trillion in market value over to trading sessions.
