Megacap tech adds more than $800 billion in market cap after U.S.-China tariff pause

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) Members of the so-called Magnificent 7 group added an aggregate $837.5 billion in market value on Monday after the U.S. and China agreed to pause most tariffs on each other's goods. It marked the largest collective move for the group since April 9. 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 in ... Read full article.