U.S. stocks gained a day after a worldwide selloff in risky assets.
The Nasdaq composite led indexes higher, rising 0.6%. The Dow industrials added 0.4%, or 185 points, while the S&P 500 advanced 0.2%, led by corporate stalwarts Boeing and Intel.
Bitcoin bounced back, moving above $91,000 after its sharpest one-day gain since April. The crypto sector had been skidding as investors dialed back risk. Shares of companies that focus on acquiring digital tokens, such as Michael Saylor’s Strategy, also rallied Tuesday.
Japanese government bonds remained in focus after hawkish comments from the country’s central-bank chief on Monday. The 30-year yield set a record intraday high, but benchmark borrowing costs ended the day lower, after a well-received debt auction.
Yield gains could dampen Japanese demand for U.S. Treasurys and disrupt the carry trade, in which investors borrow cheaply in yen to make leveraged bets. Bellwether U.S. 10-year note yields finished the day down slightly Tuesday at 4.087%.
Elsewhere, stocks rallied in Seoul after the U.S. confirmed levies on South Korean vehicles will drop to 15% from 25%. That will be retroactive to early November. Automakers Kia and Hyundai both rose more than 4%.
The U.S. and global economies are set to slow next year as higher tariffs take effect, the Organization for Economic Cooperation and Development said Tuesday.
