Nasdaq Jumps Most in 4 Months in Risk-On Revival: Markets Wrap
- Tech-heavy gauge jumps more than 4%; dollar index weakens
- Treasury auctions kick off Tuesday amid record short bets
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Investors poured back into the market’s riskiest assets Tuesday as dip-buyers powered the Nasdaq 100 to its biggest rally since November and sent Bitcoin back toward a record. Treasuries added to gains after a note auction.
Stay-at-home winners surged after being left for dead as vaccinations pick up and Democrats move to inject $1.9 trillion into the economy. Treasury yields pulled back from recent highs sparked by worries a potential overshoot in the economy will bring inflation. For a day, at least, the rotation from growth shares to value reversed violently. Here are some of the major moves: