Nvidia and other stocks climbed on Thursday after President Trump said he'll exempt companies from his planned semiconductor tariffs if they have committed to making their chips in the US.

President Donald Trump stunned markets Wednesday by announcing 100% tariffs on imported semiconductor chips — but major chip stocks rallied. Taiwanese chip giant TSMC's stock closed 4.9% higher. In South Korea, Samsung Electronics ended 2.5% higher while SK Hynix reversed losses of over 3% in early trade to close 1.4% up.

Taiwanese semiconductor-related stocks rose after President Trump said companies that have committed to investing in the U.S. would be [spared from 100% tariffs](

The pound rallied and UK stocks and bond prices tumbled on Thursday after the Bank of England cut interest rates as expected, although concern over inflation among its policymakers stirred up unprecedented division.

The pound is jumping and U.K. government bond yields rising after the Bank of England cut interest rates as forecast but the decision was a much closer call than expected. The BoE's Monetary Policy Committee trimmed the Bank Rate by 25 basis points to 4.