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Following the sell-off seen in the previous session, U.S. technology<\/span> stocks showed a substantial move back to the upside during trading on Tuesday. The tech-heavy Nasdaq skyrocketed, bouncing off a nearly three-month closing low.<\/p>\n The Nasdaq soared 464.66 points or 3.7 percent to 13,073.82, recording its biggest single-day gain since last November. The S&P 500 also jumped 54.09 points or 1.4 percent to 3,875.44, while the Dow posted a much more modest gain, inching up 30.30 points or 0.1 percent to 31,832.74.<\/p>\n The rebound by the Nasdaq came as a pullback by long-term treasury yields contributed to significant strength among tech stocks.<\/p>\n The yield on the benchmark ten-year note showed a notable move to the downside after ending the previous session at its highest closing level in over a year.<\/p>\n Tech stocks fell sharply in reaction to the jump in bond yields seen on Monday, with the Nasdaq plunging even as the Dow jumped to a new record intraday high.<\/p>\n The subsequent pullback shown by yields inspired traders to pick up tech stocks at reduced levels despite lingering concerns about inflation and the outlook for interest rates.<\/p>\n Electric car maker Tesla (TSLA) showed a significant rebound after closing lower for five straight sessions, while tech giants Facebook (FB), Apple (AAPL) and Amazon (AMZN) also posted strong gains.<\/p>\n Semiconductor stocks turned in some of the market’s best performances, with the Philadelphia Semiconductor Index spiking by 6.1 percent after ending the previous session at its lowest closing level in over two months.<\/p>\n Software, networking and computer hardware stocks also saw significant strength, contributing to the rally by the tech-heavy Nasdaq.<\/p>\n Outside of the tech sector, gold stocks also moved sharply higher on the day, resulting in a 2.5 percent jump by the NYSE Arca Gold Bugs Index.<\/p>\n The rally by gold stocks came amid a substantial increase by the price of the precious metal, with gold for April delivery soaring $38.90 to $1,716.90 an ounce.<\/p>\n Retail and brokerage stocks also saw notable strength on the day, while energy stocks came under pressure amid a steep drop by the price of crude oil.<\/p>\n Other Markets<\/p>\n In overseas trading, stock markets<\/span> across the Asia-Pacific region turned in a mixed performance during trading on Tuesday. Japan’s Nikkei 225 Index jumped by 1 percent, while China’s Shanghai Composite Index tumbled by 1.8 percent.<\/p>\n Meanwhile, the major European markets all moved to the upside over the course of the trading day. While the U.K.’s FTSE 100 Index edged up by 0.2 percent, the French CAC 40 Index and the German DAX Index both rose by 0.4 percent.<\/p>\n In the bond market, treasuries regained ground after coming under pressure in the previous session. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, slid 5 basis points to 1.546 percent.<\/p>\n Looking Ahead<\/p>\n Trading on Wednesday may be impacted by reaction to a Labor Department report on consumer prices, as concerns about inflation have contributed to the recent jump in bond yields. <\/p>\n<\/p>\n<\/div>\n