LIVE MARKETS-Tech bounces to lead rebound from DeepSeek selloff
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TECH BOUNCES TO LEAD REBOUND FROM DEEPSEEK SELLOFF
U.S. stocks rebounded on Tuesday, with the S&P 500 .SPX and Nasdaq .IXIC bouncing from sharp losses in the prior session, induced by concerns about cheaper artificial intelligence competition from Chinese startup DeepSeek.
Tech .SPLRCT, up 3.6% for its biggest daily percentage gain since July 31, led the rebound but could not make up for the 5.58% plunge in the prior session, its largest since Sept. 3, 2020.
Nvidia NVDA.O, which plummeted 17% on Monday en route to dropping nearly $600 billion in market cap, rallied 8.82% to recover with many of the other chipmakers beaten down in the prior session. The Philadelphia semiconductor index .SOX advanced 1.11%.
On the downside, consumer staples .SPLRCS were the weakest sector, down 1.5%m after a jump of nearly 3% in the prior session, its best daily performance since February 2022.
Up next, investors will grapple with the Fed's rate decision on Wednesday afternoon, followed by earnings from megacap stocks Microsoft MSFT.O, Tesla TSLA.O and Meta META.O after the closing bell.
Below is your closing market snapshot:
(Chuck Mikolajczak)
*****
FOR TUESDAY'S EARLIER LIVE MARKETS POSTS:
BOFA CLIENTS NET SELLERS FOR FIRST TIME POST-ELECTION - CLICK HERE
DEEPSEEK MAULING IGNITES APPETITE FOR AI STOCKS AT BARGAIN PRICES - CLICK HERE
TUESDAY'S DATA DISAPPOINTS: CONSUMER CONFIDENCE, DURABLE GOODS, HOME PRICES - CLICK HERE
THE PATIENT IS IN STABLE CONDITION - CLICK HERE
OUT OF THE GATE, DIVIDENDS PROVING NOBLE - CLICK HERE
THE YEAR OF THE SNAKE - CLICK HERE
CAPITAL GOODS: INVESTORS ON ALERT OVER CHINESE COMPETITION - CLICK HERE
THREE CATALYSTS TO SUPPORT EUROPE'S RE-RATING - CLICK HERE
STOXX 600 RISES AS INVESTORS EVALUATE DEEPSEEK IMPACT - CLICK HERE
EUROPE BEFORE THE BELL: FUTURES MOSTLY HIGHER AFTER DEEPSEEK WOBBLE - CLICK HERE
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