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Here's what happened to the stock market on Wednesday

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Gains in major tech companies helped the major averages regain some of the losses from Tuesday's session.

advanced 2.70% and 1.95%, respectively. This gain in tech came as coronavirus cases in the U.S. topped 3 million.

"It seems like you flip a switch when those Covid cases go up, the country takes a step back in terms of reopening the economy and all those names find high demand," said one trader.Wednesday's move higher comes as the U.S. reported a record daily spike of more than 60,000 coronavirus cases on Tuesday. The total number of confirmed U.S. cases now totals more than 3 million,

 

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