Tech Stocks Set to Break a Three-Day Losing Streak on Tuesday, Driven by a Robust Rally in Chipmakers

The VanEck Semiconductor ETF (NASDAQ: SMH) surged 1.8% after falling over 7% in the last three sessions, suggesting a revival in risk sentiment toward artificial intelligence-related stocks.

Tech stocks are expected to snap a three-day losing streak on Tuesday, helped by a strong rally in chip makers, with Nvidia (NASDAQ:NVDA) surging over 4% and returning above the $3 trillion valuation. The VanEck Semiconductor ETF (NASDAQ:SMH) gained 1.8%, recovering from a over 7% decline in the last three sessions and indicating a resumption in risk appetite towards AI-related stocks. The tech-heavy Nasdaq 100 advanced nearly 1%, outperforming other major indices. Sentiment was lackluster in non-tech sectors, with the S&P 500 edging higher by only 0.1%, while the Dow Industrial Average and the Russell 2000 fell 0.9% and 0.6%, respectively. Treasury yields saw slight increases following hawkish comments from the Fed's Michelle Bowman, who did not rule out further rate hikes if inflation improvements stall. The iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) slipped 0.2%, while a trade-weighted measure of the U.S. dollar gained 0.2%. Commodities declined mostly, with gold and crude oil down 0.5% and 1%, respectively. Copper fell 1%, and silver dropped 2.2%. Cryptocurrencies rebounded after several days of losses. Bitcoin (CRYPTO:BTC) rose 2.3%, aiming for its strongest day in three weeks. The more speculative Dogecoin (CRYPTO:DOGE) surged nearly 7%, on track for its best performance in over a month. Here's a snapshot of Tuesday's performance in major US indices and ETFs:

The above is the detailed content of Tech Stocks Set to Break a Three-Day Losing Streak on Tuesday, Driven by a Robust Rally in Chipmakers. For more information, please follow other related articles on the PHP Chinese website!