Alphabet, Meta, Amazon, Nvidia lead tech rally after Trump announces ceasefire with Iran

U.S. stock markets experienced a significant uptick on Wednesday following President Donald Trump's announcement of a two-week ceasefire with Iran. This news breathed new life into previously struggling tech companies, with major players like Meta, Amazon, Alphabet, and Nvidia taking the lead in the market rally. Among the notable gains, chip manufacturers saw impressive growth, with Taiwan Semiconductor Manufacturing Co. rising by 7%. Other companies, including ASML, Applied Materials, and Micron, enjoyed a 9% increase in their stock values. Lam Research, Western Digital, and Seagate also saw their shares climb by 10%, reflecting the bullish sentiment across the tech sector. Trump's announcement came after he had previously issued a dire warning about potential devastation, stating that "a whole civilization will die" if hostilities continued. However, he ultimately decided to pause military actions, revealing that the U.S. had received a proposal from Iran, indicating ongoing negotiations. Despite the ceasefire, shipping activities through the crucial Strait of Hormuz remain below pre-conflict levels. Additionally, tensions persisted as Saudi Arabia's east-west pipeline was targeted by a drone attack only hours after Trump's message on Truth Social, highlighting the fragile nature of the situation in the region.