Nasdaq leads a broad Wall Street rally as Treasury yields fall

U.S. equity markets rallied sharply, with technology and semiconductor shares leading a broad advance across major benchmarks. The Nasdaq 100 climbed 1.73% to 29,446.98, while the S&P 500 advanced 1.14% and the Dow Jones Industrial Average gained 0.61%. In contrast, small-cap equities lagged, with the Russell 2000 rising by a more modest 0.55%, reflecting divergence between mega-cap tech leadership and domestically oriented cyclical stocks. The equity rebound was heavily supported by a decline in U.S. Treasury yields across key maturities. The 10-year Treasury yield dropped 7.0 basis points to 4.9344%, while the 2-year yield fell 5.4 basis points to 4.6726%. Lower yields diminished discount rate pressures on long-duration corporate cash flows, providing substantial tailwinds for growth companies. Semiconductor equities were among the session's standout gainers, bolstered by sharp advances in Arm, Intel, and AMD. Concurrently, WTI crude oil decreased 1.15% to $101.25 per barrel, helping to alleviate near-term inflation anxieties across broader market sectors.