It was another wild day in United States and global stocks on April 9, as new U.S. tariffs that were implemented just after midnight were paused just a few hours later for more than 75 U.S. trading partners. The pause happened for countries who didn't retaliate against the tariffs when they took effect.
Apple is one of the stocks that skyrocketed upon the news, surging more than 12% and ending its worst four-day trading stretch since 2000. During the past four days, Apple actually fell behind Microsoft in being the most valuable company and had a $774 billion dip in market value, but the iPhone maker recovered its status after the tariff turnaround on April 9.
It wasn't just Apple posting major wins, either. Tesla and Nvidia gained more than 15% after the news broke, Microsoft and Meta Platforms went up roughly 8% each and Amazon and Alphabet went up more than 7%. It's a stark contrast to these same stocks free-falling over the past few trading sessions.
It's worth noting that the U.S.'s 90-day pause on tariffs does not apply to China, since they had imposed retaliatory tariffs. U.S. tariffs on China will actually now climb to a total of 125%, effective immediately. Following the U.S. tariffs being implemented on China, they boosted taxes on American imports to 84% and said they would "fight to the end" in this trade war.
The United States sent $199 billion in exports to China last year, and China exported $463 billion in goods and services to the United States, according to the U.S. Commerce Department.
Of the Apple stock, The Motley Fool notes in an April 9 feature, "If the trade war with China is long-lasting, Apple still has many challenges ahead to navigate." But, they add that the news "at least gives investors some confidence that" the U.S. is willing to try to negotiate.
Related: Warren Buffett's 3-Word Advice on Getting Rich Amid Tariffs