U.S.-China breakthrough sends tech and chip stocks soaring

HANGZHOU, CHINA - JUNE 3, 2024 - The NVIDIA logo and the Apple logo are pictured in Hangzhou city, Zhejiang province, China, June 6, 2024. On June 5, Eastern time, Nvidia's stock market value exceeded $3 trillion, officially surpassing Apple's market value and becoming the world's second largest technology giant by market value. It is worth noting that in just over 3 months, Nvidia's market value soared from $2 trillion to $3 trillion. (Photo credit should read CFOTO/Future Publishing via Getty Images) Global technology and chip stocks rallied on Monday after the U.S. and China agreed to pause most tariffs on each other's goods. Technology stocks — such as semiconductor firms and smartphone makers — have been hit hard as trade tensions between the world's two largest economies threatened to disrupt supply chains and hurt some of the biggest U.S. businesses. But investors breathed a sigh of relief after talks between the U.S. and China over the weekend yielded a temporary pause in "r ... Read full article.