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Stocks Shake Off Tech Slide as Dip Buyers Emerge: Markets Wrap

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WATCH: The risk of a pullback in US equities is “quite high”, according to AMP’s head of investment strategy Shane Oliver.Source: Bloomberg
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US stocks closed higher following a sudden pullback in tech shares, with investors assessing the latest round of upbeat earnings against a backdrop of growing concerns over slowing growth and rising borrowing costs.

The S&P 500 managed to post modest gains in a roller-coaster session that included a sharp downturn after the index failed to push above its 200-day moving average. The tech-heavy Nasdaq-100 ended lower, while the Dow Jones Industrial Average kept its leadership role among major benchmarks, rallying 0.7%.