Nasdaq 100 Enters Bull Market as Bank Jitters Ease, Tech Rallies
- Tech-heavy index rises 20% from its Dec. 28 closing low
- Top megacap Nasdaq names rallied $600 billion this month
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The Nasdaq 100 Index surged into a new bull market Wednesday for the first time in nearly three years as traders pile into technology stocks and angst around the recent bank turbulence eases.
The tech-heavy gauge finished trading up more than 20% from its Dec. 28 closing low, powered by big rallies in megacaps Apple Inc., Microsoft Corp. and Amazon.com Inc.