S&P 500 rebounds as tech stocks decline, Dow gains 358 points.

From Nasdaq.: 2025-01-13 16:29:12

The Nasdaq continued its tech selloff, while the Dow and S&P 500 rebounded, with the Dow adding 358 points. Rising Treasury yields have driven investors away from tech stocks. Retail giants and Sage Therapeutics made notable moves in the market. Moderna stock had its worst day ever, while call traders remained optimistic about Nvidia stock despite a drop. Analysts downgraded a social media stock. President Biden forgave student loan debt for 150,000 borrowers, totaling $183.6 billion. Wildfires in Los Angeles could lead to a rise in rent prices. Oil prices rose on concerns of sanctions on Russian oil, with WTI crude reaching a five-month high. Gold futures fell due to a stronger dollar.



Read more at Nasdaq.: S&P 500 Bounces Back as Traders Offload Tech