Technology companies helped power stocks broadly higher on Wall Street on Tuesday, snapping the market's two-day losing streak.
The Standard & Poor’s 500 index rose 24.13 points, or 0.9%, to 2,864.36. The Dow Jones industrial average gained 197.43 points, or 0.8%, to 25,877.33. “The trade negotiation with China is pretty much the big elephant in the room and continues to be,” Frederick said. “Which is why we're going to continue to see above-average volatility like we’ve seen for the last two weeks, and it’s a kind of treacherous spot for people to be in right now.”
Technology stocks, especially chipmakers, have already been under increased pressure because of the ongoing trade war. The latest move to restrict some technology sales could cut into key revenue sources.
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China often steals technology, as it turns out.
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