Tech Stocks Gain As Magnificent Seven Rebound

While President Trump hailed last week's record-breaking stock market rally, his critics were quick to respond. Senator Ron Wyden (D-Ore.), ranking member of the Finance Committee, said the tariff pause only prolongs chaos and leaves millions of Americans in a painful state of suspended animation, Connor Smith reported for Barron’s Daily.

Nvidia’s market value jumped nearly $440 billion. I Photo: NVIDIA Asia-Pacific Facebook

The pause in tariffs sent markets soaring, with stocks gaining $5.1 trillion in value—the largest one-day gain on record, according to Dow Jones Market Data. The tech sector led the charge, driving the Nasdaq up 12%.

The "Magnificent Seven" stocks collectively added $1.85 trillion, marking their largest single-day gain.

Nvidia’s market value jumped nearly $440 billion—the biggest gain ever for a single company. Apple added $397 billion, overtaking Microsoft as the world’s most valuable company.

While the rally brought needed relief to the tech sector, China remains the biggest unknown, especially for Apple and the broader supply chain, according to Wedbush analyst Dan Ives. The uncertainty affects not just American tech giants, but also consumers.

Despite the recent gains, markets are still in the red. Trump’s tariff announcement on April 2 wiped $7.73 trillion in market value through Tuesday’s close, pulling the S&P down 12% in that time.

The index remains 7.2% lower year-to-date, according to Barron’s reporters Anita Hamilton, Reshma Kapadia, and Liz Moyer.