The Nasdaq Composite increased by more than 1% on Tuesday as investors flocked back to tech firms in the closing days of a challenging August for the market.
The Dow Jones Industrial Average rose 218 points or 0.6%, while the S&P 500 increased by 1.3%. The heavily tech-focused Nasdaq rose 1.7%.
Having gained more than 4%, chipmaker Nvidia took the lead among advancing tech companies. Microsoft, Apple, Tesla, and Meta Platforms all saw increases in share price. Following the announcement of fresh U.S. economic data, bond yields appeared to drop, which appeared to help the sector.