Nasdaq rebounds from record slump as tech stocks rally

10.09.2020 - Korneychuk Evgeniya
Nasdaq rebounds from record slump as tech stocks rally

Nasdaq rebounded on Wednesday, recovering from a record plunge after tech stocks from firms such as Apple Inc led the charge.

The Dow Jones Industrial Average gained 2.40% (659 points). Meanwhile, the S&P500 gained 2.63%, while the Nasdaq Composite jumped up 3.1% after it had plummeted by a record 10%.

The tech-heavy Nasdaq was boosted by a 7% surge in Tesla’s stocks, which recovered from a 20% slump after it failed to make the cut to be included in the S&P 500 despite generating four consecutive quarters of growth.

Tech stocks rebounded from a three-session rout after Apple Inc’s stocks soared by 5% as investors placed their support over the new iPhone expected to be launched later in the year. Other tech giants such as Facebook, Alphabet,, and Microsoft also saw gains.  

However, not all tech firms saw gains, with stocks from Slack Technologies and Lulelemon Athletica plunging by 16% and 9% respectively.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?