Big tech stocks rallied in premarket trading on Tuesday, rebounding from previous session’s losses over U.S. President Donald Trump’s tariff policy and threats of even higher levies against China.

Broadcom and Palantir rose 4%; Amazon, Nvidia, and Tesla rose 3%; Meta, Alphabet, Microsoft, and Apple rose 2%.

Global equity markets have been rocked by the frequent updates around U.S. President Donald Trump’s tariffs regime in recent days as tensions between the U.S. and its trading partners do not appear to be easing.

Speculation on Monday about a potential tariff pause was quickly shut down by the White House, while Trump threatened to hike tariffs on China by another 50% unless it scrapped retaliatory duties. Beijing last week imposed a 34% tariff on American products in response to Trump announcing his full list of so-called reciprocal tariffs.

Overnight, China’s Commerce Ministry said it “resolutely opposes” Trump’s threat of escalating tariffs, and vowed to take countermeasures to safeguard its own rights and interests.

Also on Monday, European Commission President Ursula von der Leyen said the EU had offered Trump a “zero-for-zero tariffs” deal for industrial goods, and reiterated that the bloc was keen to negotiate but was also prepared to impose countermeasures.

Broadcom Inc., a supplier of semiconductors to Apple Inc. and other big tech companies, announced plans to buy back as much as $10 billion in shares, saying it remains confident in the chip industry. The board has authorized the repurchase through Dec. 31, Broadcom said in a statement Monday.