US stocks trade mixed as investors struggle to recoup losses from tech-led rout

US stocks trade mixed as investors struggle to recoup losses from tech-led rout

US stocks were mixed on Wednesday after a massive tech sell-off in the previous session drove the stock market to its biggest decline in months. The benchmark S&P 500 gained after closing lower by 2% in its worst one-day performance since May during the previous session. The Dow Jones Industrial Average was higher, but the Nasdaq slipped at the end of the day to end in the red. The 10-year US Treasury yield shed around 0.8 basis points, slipping to 1.544% after rising to an intraday high of 1.567% Tuesday - its highest since the end of June - on fears of rising inflation and uncertainty around before the Treasury runs out of money on . "Investors just want to fast forward past the debt ceiling drama and focus on the global economic recovery," Edward Moya, senior market analyst at foreign exchange firm Oanda, said in a note. "The global reopening trade was delayed due to delta, but that should firmly be the theme as supply chain issues improve." High-growth tech shares are sensitive to yields, and rise in global bond yields makes returns on stocks look less attractive. Still, investors should still for the long-term, said in a recent