Shares of Nvidia Corp. soared 18.03%, Delta Air Lines Inc. jumped 23.38%, Advanced Micro Devices added 23.82% and Tesla Inc.

President Donald Trump on Wednesday abruptly backed down on his tariffs on most nations for 90 days, but raised the tax rate on Chinese imports to 125%.

China and the European Union earlier had unveiled stiff retaliation levies on the U.S. aimed at countering Trump's tariff ...