US stocks were on track for a sizable rebound on Tuesday following a three-day rout that wiped a healthy chunk of 2024's market gains. The benchmark S&P 500 led the mid-morning gains, up about 1.7%. The tech-heavy Nasdaq Composite followed suit, up around 1.6% while the Dow Jones Industrial Average jumped 1.3%.
On Tuesday, it fell back to earth, to levels seen often in 2022. Some of the market's biggest names also were aiming for a rejuvenation. The "Magnificent 7" stocks lost more than $650 billion in market cap on Monday. On Tuesday, that looked set to change. Nvidia , which led the way down, rose over 3% before the market open. Tesla , Microsoft , and Meta all rose more than 1%. Cryptocurrencies, which weren't spared from the rout, also rose in tandem with the optimism.
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