Nvidia (NVDA) stock rose as much as 4.5% premarket Tuesday, leading the "Magnificent Seven" tech stocks higher as they began to recover from steep losses following the announcement of the Trump administration's tariff agenda last week. 

Meta (META), Amazon (AMZN), and Tesla (TSLA) rose as much as 4% premarket Tuesday, while Google (GOOG) jumped nearly 3%. 

Apple (AAPL) climbed more than 2%, while Microsoft (MSFT) gained 1.5%. 

The group had shed $1.8 trillion in value last week following the April 2 announcement of US president Donald Trump's two-step global tariff plan. The agenda includes a baseline tariff of 10% on all global imports, which went into effect over the weekend, as well as "reciprocal" tariffs set to take effect Wednesday.

The tariffs would deeply affect the Big Tech stocks, many analysts have said, because of their reliance on global supply chains. 

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For example, 90% of Apple's iPhones are made in China, many Tesla EV components are sourced outside the US, and Nvidia products are imported from Mexico and Taiwan. Making matters worse, some 50% of Mag 7 firms' revenue comes from abroad, Apollo chief economist Torsten Sløk said in a blog Monday.

But Nvidia AI servers imported from Mexico are exempt from tariffs under the the US-Mexico-Canada agreement, according to Bernstein analyst Stacy Rasgon.

Nvidia's premarket movement adds to its 3.5% gain Monday following a chaotic trading session that saw the stock drop as much as 8% before reversing direction. Other Mag 7 stocks also posted big drops before paring losses or changing course.

Meta, Google, and Amazon also ended Monday in the green. Meta and Amazon rose more than 2%, while Google climbed 1%.

The Mag 7's recovery Tuesday comes as news of bilateral trade talks with Japan boosted investor hopes that the White House could cut trade deals with other nations.

US stock futures tied to the S&P 500 (ES=F), the tech-heavy Nasdaq 100 (NQ=F) and Dow Jones Industrial Average futures (YM=F) all jumped, with Dow futures rising as much as 2.7%.

Laura Bratton is a reporter for Yahoo Finance. Follow her on Bluesky @laurabratton.bsky.social. Email her at laura.bratton@yahooinc.com.

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