On Wednesday, tech stocks rallied and pushed the Nasdaq Composite to its best day since April. The Dow Jones Industrial Average gained 439.58 points, or 1.6%, while the S&P 500 grew 2.01% and the Nasdaq ended the day up 2.71% for its largest single-day gain since April 29.
Tesla stock gained 10.92% after falling 21% on Tuesday and tech stocks such as Apple, Microsoft, Amazon, Alphabet and Facebook also rebounded after all six lost $1 trillion in market value over the past three days. Microsoft stock closed up 4.26%, Apple rose 3.99%, Amazon gained 3.77%, Alphabet grew 1.55% and Facebook climbed 0.94%.
The S&P 500’s tech sector rallied 3.4% on Wednesday but remained down 8.4% for the week.