Nvidia, Alphabet Rescue Nasdaq 100 From Precipice of Correction

Up until two weeks, ago, they’d been among the market’s saviors for the better part of two years. On Tuesday, two tech giants reprized that role.

In a stunning reversal, Nvidia Corp. and Alphabet Inc. each rose at least 3%, helping the Nasdaq 100 Index turn a 1.9% loss into an intraday gain of more than 1%. While tech-heavy gauge closed slightly lower after the rally fizzled in the last half hour of trading, the index avoided a 10% drawdown from a record high earlier this month.