- US stocks rebound after suffering heavy losses amid Fed’s rate cut on Tuesday.
- Healthcare and technology shares lead the rally in early trade.
Wall Street’s main indexes started the day decisively higher on Wednesday as the panic-selling that was triggered following the Federal Reserve’s emergency rate cut on Tuesday seems to have faded away.
Major US indexes surge
As of writing, the Dow Jones Industrial Average was up 2.65% on the day while the S&P 500 and the Nasdaq Composite were adding 2.1% and 1.95%, respectively.
Major victories from Democratic presidential candidate Joe Biden during Super Tuesday seems to be providing a boost to the S&P 500 Healthcare Index, which was last up 3.75% on the day as the best performing major sector. Additionally, the risk-sensitive S&P 500 Technology Index is up 2.3% to reflect the upbeat market mood.
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