Tech stocks, particularly semiconductors like Intel, AMD, and Broadcom, faced renewed selling pressure in early trading. This occurred despite falling bond yields, which buoyed the Dow and S&P 500 after the US Treasury Department supported buybacks of long-dated securities. Meanwhile, Moderna shares soared 124% following positive Phase 3 trial results for its melanoma vaccine developed with Merck, driving strength in the healthcare sector. Basic Materials also led the morning, boosted by a surge in gold futures and gold miner stocks.