Software stocks and the broader Nasdaq Composite rose more than 1% as dip-buyers rushed into the market after days of intense selling.

Live Updates Tech Gains Buoy Nasdaq Composite Higher 1 hour ago Live Nvidia (Nasdaq: NVDA) stock has begun to rally, climbing 7% higher and helping to alleviate fears of the AI bubble in the markets.

SaaS companies took major hits: Microsoft closed down 2.87%, SAP was down 3.29% this morning on the German market, Salesforce lost 6.85% yesterday and was further down in overnight trading, ServiceNow was down 6.97% yesterday and was marginally lower overnight, also.

It’s also widened to include the industry’s Wall Street backers, from lenders to private equity owners for whom software firms have been popular targets. More than $17.7 billion of US tech company loans in a Bloomberg index dropped to distressed trading levels during the past four weeks.

Major equities indexes closed mixed on a busy earnings Wednesday, with technology shares pulling the Nasdaq and S&P 500 lower for a second straight session.

The memory chip specialist has room to run much higher in the coming year.

Shares have retreated in Asia on heavy selling of technology stocks, while the price of bitcoin fell as much as 8%

US stocks got hit as oil investors skimmed profits in the tech sector and concerns rose over higher oil prices.