Wall Street rebounds sharply led by healthcare and tech shares
- US stocks rebound after suffering heavy losses amid Fed's rate cut on Tuesday.
- Healthcare and technology shares lead the rally in early trade.
Wall Street's main indexes started the day decisively higher on Wednesday as the panic-selling that was triggered following the Federal Reserve's emergency rate cut on Tuesday seems to have faded away.
As of writing, the Dow Jones Industrial Average was up 2.65% on the day while the S&P 500 and the Nasdaq Composite were adding 2.1% and 1.95%, respectively.
Major victories from Democratic presidential candidate Joe Biden during Super Tuesday seems to be providing a boost to the S&P 500 Healthcare Index, which was last up 3.75% on the day as the best performing major sector. Additionally, the risk-sensitive S&P 500 Technology Index is up 2.3% to reflect the upbeat market mood.