Nasdaq leads Wall St higher; tech shares recover from Monday's sell-off
U.S. stocks ended higher on Tuesday, with Nvidia and other artificial intelligence-linked technology shares recovering from sharp losses the previous day as investors snapped up bargains.
The Nasdaq led gains and AI chip leader Nvidia gave the index its biggest boost, a day after Nvidia's 17% drop erased about $593 billion from its market value in the biggest single-session loss for any company.
The S&P 500 technology sector rose the most of any S&P 500 sector, while an index of semiconductor shares also gained.
Investors were eager to hear from Apple, Microsoft and other companies when they report quarterly results this week.
The tech sell-off followed Chinese startup DeepSeek's launch of AI models it said were on a par or better than industry-leading U.S. rivals at a fraction of the cost.
According to preliminary data, the S&P 500 gained 54.68 points, or 0.91%, to end at 6,066.96 points, while the Nasdaq Composite gained 391.75 points, or 2.03%, to 19,733.59. The Dow Jones Industrial Average 134.17 points, or 0.30%, to 44,847.71.
U.S. President Donald Trump said late on Monday he plans to impose tariffs on imported computer chips, pharmaceuticals and steel.
On Wednesday, the Federal Reserve is widely expected to hold its lending rate steady in its first interest-rate decision of the year.
Source: Reuters
