Wall Street Rebounds as Tech and Chipmakers Recover
U.S. stocks rose on Monday as investors sought bargains in the technology and semiconductor sectors following a sharp market decline. Gains were supported by cooling Middle East tensions and a 12% jump in Intel shares after reports of a significant new order from Google.
The United States stock market rose Monday as chipmakers and technology shares recovered from a selloff that erased $1 trillion in market value for U.S.-listed semiconductor firms. The Nasdaq Composite climbed 1.27% to 26,036.94, while the S&P 500 added 0.63% to reach 7,430.49. Investors pivoted toward bargain hunting following a sharp decline triggered by interest rate concerns and geopolitical friction.
### Middle East De-escalation Fuels Market Recovery Geopolitical tensions eased after Iran and Israel announced a halt to direct attacks. The decision followed an appeal from the U.S. presidency to end the 24-hour confrontation, which marked the most direct conflict between Iran and Israel since April.
