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Nasdaq rebounds on tech
The Nasdaq Composite rose 0.4% at the start of trading Tuesday as investors returned to tech stocks and awaited the U.S. midterm elections. The Nasdaq 100 gained 0.5% but remained in correction territory after falling more than 16% from its recent peak. Chipmakers advanced, with Micron up 4%, while Apple fell 3%. The Dow Jones dropped 188 points, while the S&P 500 gained 0.1%. Traders in prediction markets put the odds of Democrats winning a Senate majority at about 75%, amid expectations that the election results would affect markets, particularly AI stocks.
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