United AirlinesMicrochip Technologydecision to pause most of the largest tariff increases for 90 days.
In afternoon trading, the Atlanta-based airline and the semiconductor manufacturer soared 26.9% and 26.8%, respectively, from the session lows seen earlier in the day.
The moves came alongside a roaring rally in stocks after Trump temporarily dropped the highest new tariff rates on most U.S. imports to 10% for 90 days, while raising those imposed on Chinese imports to 125%, “effective immediately.”
Stocks with the largest percentage reversals Wednesday
| Symbol | Name | RBICS Economy | Previous close | Intraday Low | Current price | Chg at low | % chg low to curr. |
|---|---|---|---|---|---|---|---|
| UAL | United Airlines Holdings, Inc. | Industrials | 56.15 | 56 | 71.09 | -0.27% | 26.94% |
| MCHP | Microchip Technology Incorporated | Technology | 35.34 | 35.1 | 44.5 | -0.68% | 26.78% |
| HWM | Howmet Aerospace Inc. | Industrials | 114.62 | 102.61 | 127.16 | -10.48% | 23.93% |
| APA | APA Corporation | Energy | 14.03 | 13.584 | 16.72 | -3.18% | 23.09% |
| KKR | KKR & Co Inc | Finance | 94.51 | 91.5 | 112.15 | -3.18% | 22.56% |
| MU | Micron Technology, Inc. | Technology | 65.54 | 63.7 | 78.03 | -2.81% | 22.49% |
| DAL | Delta Air Lines, Inc. | Industrials | 35.88 | 36.555 | 44.67 | 1.88% | 22.19% |
| MPWR | Monolithic Power Systems, Inc. | Technology | 455.19 | 449.53 | 549 | -1.24% | 22.13% |
| SYF | Synchrony Financial | Finance | 43.83 | 42.095 | 51.31 | -3.96% | 21.89% |
| ON | ON Semiconductor Corporation | Technology | 31.95 | 31.68 | 38.59 | -0.85% | 21.81% |
| WBD | Warner Bros. Discovery, Inc. Series A | Consumer Services | 7.69 | 7.52 | 9.15 | -2.21% | 21.61% |
| ALB | Albemarle Corporation | Non-Energy Materials | 50.76 | 50.235 | 61.07 | -1.03% | 21.57% |
| AMD | Advanced Micro Devices, Inc. | Technology | 78.21 | 78.87 | 95.37 | 0.84% | 20.92% |
| NCLH | Norwegian Cruise Line Holdings Ltd. | Consumer Services | 15.54 | 15.235 | 18.41 | -1.96% | 20.84% |
| WDC | Western Digital Corporation | Technology | 31.55 | 30.57 | 36.85 | -3.11% | 20.54% |
| RL | Ralph Lauren Corporation Class A | Consumer Cyclicals | 182.34 | 176.61 | 212.57 | -3.14% | 20.36% |
| VST | Vistra Corp. | Utilities | 102.19 | 99.2401 | 119.3 | -2.89% | 20.21% |
| DVN | Devon Energy Corporation | Energy | 26.8 | 25.89 | 31.08 | -3.40% | 20.05% |
| NXPI | NXP Semiconductors NV | Technology | 153.5 | 152.205 | 182.11 | -0.84% | 19.65% |
| TPL | Texas Pacific Land Corporation | Finance | 1117.49 | 1070.76 | 1281.02 | -4.18% | 19.64% |
| WSM | Williams-Sonoma, Inc. | Consumer Cyclicals | 139.21 | 133.57 | 159.76 | -4.05% | 19.61% |
| HAL | Halliburton Company | Energy | 19.26 | 18.75 | 22.42 | -2.65% | 19.57% |
| ZBRA | Zebra Technologies Corporation Class A | Technology | 213.54 | 205.73 | 245.93 | -3.66% | 19.54% |
| LYB | LyondellBasell Industries NV | Non-Energy Materials | 53.23 | 51.11 | 61.07 | -3.98% | 19.49% |
| SWKS | Skyworks Solutions, Inc. | Technology | 49.2 | 49.13 | 58.65 | -0.14% | 19.38% |
| APO | Apollo Global Management Inc | Finance | 110.41 | 108.1 | 128.97 | -2.09% | 19.31% |
| KLAC | KLA Corporation | Technology | 599.51 | 597.35 | 712.58 | -0.36% | 19.29% |
| HPE | Hewlett Packard Enterprise Co. | Technology | 12.51 | 12.15 | 14.48 | -2.88% | 19.14% |
| CCL.U | Carnival Corporation | Consumer Services | 16.69 | 16.61 | 19.79 | -0.48% | 19.11% |
| DOW | Dow, Inc. | Non-Energy Materials | 25.81 | 25.06 | 29.84 | -2.91% | 19.07% |
United Airlines, Microchip and others would suffer under a global trade war that has dampened consumer confidence and curtailed spending. Delta Air Lines recently said it would not reaffirm its financial guidance for the full year, citing uncertainty caused by higher U.S. tariffs on imports.
Microchip and rivals such as ON Semiconductorslumped since the market peaked in February, despite semiconductors being excluded from the tariff increases, hurt by concern that the economy would slow and demand for chips would weaken.
In Wednesday’s historic afternoon rally, the S&P 500Dow Jones Industrial AverageNasdaq Composite
“The market’s move upward is violent, and speaks to how badly the market was looking for clarity” on tariff policy, said Chris Brigati, chief investment officer at investment firm SWBC. “It appears President Trump’s motivation to get trade counterparts to the negotiating table is bearing fruit and that is a constructive development for the ongoing trade war.”
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