US stocks finish higher amid tech-led rally

US stocks ended higher on Wednesday, recouping some of their recent massive losses.

The Dow Jones Industrial Average jumped 439.58 points, or 1.60 per cent, to 27,940.47. The S&P 500 rose 67.12 points, or 2.01 per cent, to 3,398.96. The Nasdaq Composite Index increased 293.87 points, or 2.71 per cent, to 11,141.56, Xinhua reported.

The gains came as tech fueled a market-wide rebound.

Tesla shares jumped nearly 11 per cent, among the best performers. The stock plunged more than 21 per cent in the prior session.

Shares of other tech giants such as Apple, Microsoft, Facebook and Amazon also closed higher.

All the 11 primary S&P 500 sectors advanced, with technology up 3.35 per cent, leading the gains.

US-listed Chinese companies traded mostly higher, with nine of the top 10 stocks by weight in the S&P US Listed China 50 index ending the day on an upbeat note.

Wednesday’s market movement followed a three-day tech-led heavy selling on Wall Street that pushed the Nasdaq down over 10 per cent and into the correction territory.