Stocks ended mixed on Wall Street on Tuesday after a rally in technology companies helped reverse most of an early slide.

The S&P 500 closed higher after shifting between an early gain and a turn lower in midday. Big technology stocks, which have been swinging sharply both up and down recently, helped counter losses elsewhere in the market. The Nasdaq composite rose and the Dow Jones Industrial Average fell. The yield on the 10-year Treasury also fell.

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The market is sniffing around for a bounce. Monday was a hugely volatile day as there was almost a 350-point bounce and all of those got sold into. Treasury yields were suppressed, the nominal yield was suppressed and real yields were pretty okay.

What happened overnight was a classic risk-off where equities sell-off and bond prices rise. Oil prices were down about 3.50 percent as well. It is a little over $102 a barrel.

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First Published:May 11, 2022 8:51 AM IST