Financials Lead US Stock Gains; Bonds Slide: Markets Wrap
- Apple extends losses, taking air out of technology rally
- Wheat price surges as Ukraine says Russia blew up a dam
US stocks gained Tuesday as a rotation into financial shares bolstered hopes the breadth of the S&P 500’s recent rally might extend beyond technology soon.
The benchmark index rose 0.2% as a decline in Apple Inc.’s stock took the air out of a tech rally, but shares of beaten-down regional banks were higher. The KBW Regional Bank index added 5.4% while the Russell 2000 gained 2.7%.