The world's fifth-largest exchange-traded fund on Wednesday rallied explosively after U.S. President Donald Trump announced a 90-day pause on most reciprocal tariffs except for China. 

The Invesco QQQ ETF (NASDAQ:QQQ) rocketed as much as +10.9% to a session high of 461.31 points. 

QQQ tracks the Nasdaq-100 index (NDX) and has a market value of $259.83B. The Nasdaq-100 (NDX) for its part also jumped as much as +10.9% to a session peak of 18,953.53 points. 

Trump issued a 90-day suspension of reciprocal tariffs for over 75 countries currently negotiating trade deals. He excluded China, against which it raised the tariff rate to 125%. 

Of the 100 stocks within the QQQ ETF, nearly all but three climbed into positive territory, propelled by the news of the tariff pause. 

If QQQ manages to maintain its 10% rally, it will set a record for the best single-day trading performance for the fund since the Great Financial Crisis. 

Below are the top 10 stocks in QQQ that have led the charge on Wednesday. 

No. 10: The Trade Desk (NASDAQ:TTD) +17.4%.

No. 9: Marvell Technology (NASDAQ:MRVL) +17.7%.

No. 8: Palantir Technologies (NASDAQ:PLTR) +17.8%.

No. 7: Warner Bros. Discovery (NASDAQ:WBD) +17.9%.

No. 6: ON Semiconductor Corporation (NASDAQ:ON) +18.6%.

No. 5: Tesla (NASDAQ:TSLA) +19.1%.

No. 4: Advanced Micro Devices (NASDAQ:AMD) +20.1%.

No. 3: Arm Holdings (NASDAQ:ARM) +20.8%.

No. 2: Microchip Technology (NASDAQ:MCHP) +21.9%.

No. 1: MicroStrategy Incorporated (NASDAQ:MSTR) +23.2%.

Prices are as of 3:00 pm EST.

See additional ETFs that track both the Nasdaq 100 (NDX) and the Nasdaq Composite (COMP:IND): (NASDAQ:QQQ), (NASDAQ:QQQM), (NYSEARCA:QLD), (NASDAQ:TQQQ), (NASDAQ:SQQQ), and (NYSEARCA:QID).