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Tech Rallies Most Since April in Stock Rebound: Markets Wrap

  • Tesla gains with Apple; Europe shares advance broadly
  • Dollar resumes downward draft; Brent oil recovers past $40
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Market Recovery Happening at Lightning Speed, Says Morgan Stanley
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U.S. stocks rebounded from a three-day rout, as dip buyers poured into beaten-down tech shares to send the Nasdaq 100 to its best day since April. The dollar fell versus major peers.

The S&P 500 Index rose the most since June, though finished well off its session highs. The Nasdaq gains followed an 11% rout took it down to the average price over the past 50 days. Tesla also bounced off that closely watched level after suffering its biggest selloff. Computer chip and hardware makers rose, led by Advanced Micro Devices Inc. and Apple Inc. Shares climbed broadly in Europe.