Wall Street Rebounds: Megacap Tech Propels Nasdaq Higher Despite War Concerns

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Megacap Tech Fuels Wall Street Rebound Amid US-Iran Tensions; Nasdaq Soars

The S&P 500 fell 0.9% on Monday, while the Nasdaq fell 0.8%. The fall in both the indices was cushioned by a 3.5% surge in Google-parent Alphabet, which rose after Berkshire Hathaway disclosed a stake worth nearly $5 billion in the company. Rest of the big tech shares, including Nvidia, ended lower.

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CNBC TV18•05-03-2026, 04:42

Megacap Tech Fuels Wall Street Rebound Amid US-Iran Tensions; Nasdaq Soars

•Wall Street indices rebounded from a three-day sell-off, led by megacap tech companies.
•Nasdaq outperformed, rising over 1%, with Nvidia, AMD, and Amazon showing strong rallies.
•Positive US economic data, including fastest services activity expansion since mid-2022 and 63,000 new jobs in February, overshadowed conflict uncertainties.
•US-Iran conflict continues with no de-escalation; Senate failed to curb President Donald Trump's powers.
•Oil prices remain above $80, US Dollar index cooled, and Bitcoin volatile but off 2025 lows.

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