Tech Leads Broad Rally on Wall Street

Technology companies led a broad rally in US stocks, erasing much of the market's losses from a day earlier. Traders pivoted to riskier holdings Wednesday as encouraging developments overseas helped alleviate anxiety over the global economy, the AP reports. Lawmakers in Britain were seeking a less chaotic exit from the European Union and political tensions in Hong Kong eased. Apple rose 1.7% and Intel gained 4.1%. Banks also rose. Bank of America climbed 1.6%. The S&P 500 rose 31 points, or 1.1%, to 2,937. The Dow Jones Industrial Average climbed 237 points, or 0.9%, to 26,355. The Nasdaq rose 102, or 1.3%, to 7,976. The yield on the 10-year Treasury edged up to 1.47%. (Read more stock market stories.)