Nasdaq Composite logs second-best day in its history on Trump's tariff about-turn

Seeking Alpha News (Wed, 09-Apr 5:07 PM)

Wall Street's tech-heavy Nasdaq Composite index (COMP:IND) on Wednesday notched its second-best day ever after U.S. President Donald Trump issued a 90-day pause on reciprocal tariffs against most countries except China.

The Nasdaq (COMP:IND) skyrocketed +12.16% to end at 17,124.97 points. The advance was only outpaced by +14.17% jump logged on January 3, 2001.

The Nasdaq's fellow major averages the benchmark S&P 500 (SP500) and the blue-chip Dow (DJI) experienced similar historic intraday gains. The S&P posted its best day since the financial crisis in 2008. 

Remarkably, there was only one top decliner on the Nasdaq Composite (COMP:IND) on Wednesday: Exelon (EXC) -0.4%

Here were the top 10 gainers on the index on Wednesday: 

  1. Microchip Technology (MCHP) +27.1%.
  2. Strategy (MSTR) +24.8%.
  3. Arm (ARM) +24.2%.
  4. AMD (AMD) +23.8%.
  5. ON Semiconductor (ON) +22.7%.
  6. Tesla (TSLA) +22.7%.
  7. Marvell Technology (MRVL) +21.8%.
  8. NXP Semiconductors (NXPI) +21.1%.
  9. Warner Bros. Discovery (WBD) +20.4%.
  10. Trade Desk (TTD) +19.5%

Here are some exchange-traded funds that track the Nasdaq Composite (COMP:IND): (NASDAQ:QQQ), (NYSEARCA:QLD), (NASDAQ:TQQQ), (NYSEARCA:QID), and (NASDAQ:SQQQ).