US STOCKS-Tech leads Wall Street rebound after worst day of 2019
U.S. stocks bounced back on Tuesday, led by gains in technology shares, as China stepped in to stabilize the yuan, a day after Wall Street's main indexes racked up their steepest one-day percentage fall of the year. The benchmark S&P 500 and Nasdaq lost at least 3% each on Monday, their sixth straight day of losses, after China let the yuan drop sharply, prompting the U.S. Treasury Department to label Beijing as a currency manipulator. China's move to fix the yuan at a slightly stronger rate overnight, however, allayed fears of an escalating trade war, which has been fueled by President Donald Trump's threat to slap a new round of tariffs on Chinese imports last week.
Published:8/6/2019 9:28:40 AM