The 10-year Treasury yield ( ^TNX) added to recent gains to touch a 14-month high, trading not far off 4.8% as US bonds sold off. Meanwhile, the dollar ( DX-Y.NYB) surged to a two-year high against major currency peers, with the UK pound ( GBPUSD=X ), in particular, coming under pressure.

Don't ignore the market's bearish action, led by Nvidia, even as Meta and a few other stocks flashed buy signals. Tesla held a key level.

The Nasdaq Composite increased 243.30 points or 1.2% to close at 19,864.98, also booking back-to-back gains. The tech-heavy index is up 2.9% year to date, its best start to a year since 2009, when it rose 4.8%.