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Stocks Soar On Tech Rally; Inflation Fuels Higher Yields, Bitcoin Drops Below $70,000: What’s Driving Markets Tuesday?

It was a mixed morning on Wall Street, with major U.S. indices recording gains, primarily due to a tech outperformance, although losses emerged on bonds, gold, and Bitcoin following a stronger-than-expected inflation report. The S&P 500 index rose by 0.9%, while the tech-heavy Nasdaq 100 rallied 0.9%. Within the tech space, chipmakers shined, with the VanEck Semiconductor ETF (NASDAQ:SMH) up 2%. The February Consumer Price Index (CPI) rose by 3.2% year-on-year, exceeding both the previous and expected 3.1% surge. Additionally, the core CPI index, which strips out volatile food and energy items,…

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