Tech Stocks Rebound As Nasdaq Records Largest Single-Day Gain Since April

Written by on September 10, 2020

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.

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