US, China Tariff Deal Ignites Tech Stock Surge

The U.S. and China reached a breakthrough agreement in Geneva to slash reciprocal tariffs for 90 days, with U.S. tariffs on Chinese imports reduced from 145% to 30% and Chinese duties from 125% to 10%. This announcement triggered a major rally in global stock markets, sending the S&P 500 up over 2.5% and the Nasdaq more than 3%. Major tech and semiconductor stocks, including Nvidia, AMD, Qualcomm, Broadcom, Taiwan Semiconductor, Amazon, Apple, and Tesla, posted some of their largest single-day gains of the year, with chipmakers jumping 4-8%. The agreement eased trade tensions and alleviated supply chain concerns, boosting investor confidence and temporarily restoring optimism about global economic growth. Safe-haven assets like gold and the Swiss franc declined as risk appetite surged. Analysts emphasized that both the speed and scale of the deal exceeded expectations, fueling bullish sentiment.