Stocks rise as tech shares recover loss

Stocks progressed on Tuesday as technology stocks recouped some losses, when a rotation away from growth names picked up steam as concerns over inflation lingered.

The Nasdaq gained more than 1% after the index dropped over 2% a day earlier. Both the S&P 500 and Dow each also gained over 1% during the trading day. Shares of technology heavyweight Facebook (FB) recovered after shedding nearly 5% at the start of the week.

Equity markets have faced several concerns about the economy and policy landscapes heading into the final quarter of the year.

Wall Street’s anxiety over the debt-limit debates in Washington increased further, with Democratic and Republican lawmakers still struggling to reach an agreement to raise the federal government borrowing limit and avert what some policymakers have warned would be economy-wide disaster as soon as mid-month.