Chipmakers Rebound as Dip Buyers Lift Stocks Despite Fed Rate-Hike Bets — US Market Wrap
US stocks recovered as investors returned to semiconductor shares following a sharp selloff, overcoming economic data that reinforced expectations for another Federal Reserve interest-rate increase in December. The Nasdaq 100 climbed 1.4%, while a key semiconductor index surged 4.2% as dip buyers emerged following the recent technology rout. Gains in major tech stocks also supported the S&P 500, although most of its constituents declined. Treasury yields and the dollar rose as stronger economic data strengthened expectations for further monetary tightening, leaving investors balancing renewed enthusiasm for technology shares against the prospect of higher borrowing costs.
US stocks recovered as investors returned to semiconductor shares following a sharp selloff, overcoming economic data that reinforced expectations for another Federal Reserve interest-rate increase in December. The Nasdaq 100 climbed 1.4%, while a key semiconductor index surged 4.2% as dip buyers emerged following the recent technology rout. Gains in major tech stocks also supported the S&P 500, although most of its constituents declined. Treasury yields and the dollar rose as stronger economic data strengthened expectations for further monetary tightening, leaving investors balancing renewed enthusiasm for technology shares against the prospect of higher borrowing costs.