US stocks bounce back as bond yields retreat, Moderna rallies over 150%, Merck jumps 9.6%
New Delhi, Aug. 19 -- US stock indices recovered on Wednesday after suffering a technology-led selloff in the previous session, as a retreat in government bond yields helped improve investor sentiment.
As of 10:30 a.m. Eastern Time, the S&P 500 rose 0.4%, the Dow Jones Industrial Average was up 0.5%, and the Nasdaq Composite was virtually unchanged.
At the open, the Dow Jones Industrial Average rose 120.1 points, or 0.23%, to 53463.47. The S&P 500 rose 25.0 points, or 0.32%, to 7716.74, while the Nasdaq Composite rose 104.2 points, or 0.40%, to 26393.889.
On tuesday, stocks came under heavy pressure after Treasury yields climbed to multi-decade highs. Concerns over rising US government debt, along with geopolitical uncertainty, trigger...
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