By Chelsey Dulaney

The tech rebound is faltering.

Tesla, Nvidia and some other heavyweight tech stocks slipped in morning trading Wednesday, putting pressure on the Nasdaq Composite.

Technology shares have bounced back in recent days, with the so-called Magnificent Seven rising 6.2% in the last three sessions, their strongest performance since November, according to Deutsche Bank.

Signs that the Trump administration is narrowing its plans for tariffs have boosted markets. But investors remain on edge ahead of April 2, when the White House is expected to announce new levies.

Consumer and business sentiment also has been dented by the White House's rapidly evolving tariff threats, survey data has shown, though other indicators suggest the U.S. economy remains on strong footing. Durable-goods orders rose 0.9% in February, new data showed Wednesday, blowing past expectations for a 1% decline.

In recent trading:

Stock indexes were mixed. The Dow industrials nudged higher, while the Nasdaq Composite slipped.

Treasury yields were little changed. The yield on the benchmark 10-year Treasury note settled Tuesday at 4.307%.

Among individual stocks, GameStop shares jumped, after the videogame retailer and onetime meme stock reported results, and said it would start investing in bitcoin. Dollar Tree gained after it struck a $1 billion deal to sell Family Dollar.

Copper rose to new highs. New York-traded futures climbed more than 1% after settling at a record on Tuesday. The White House has threatened tariffs on copper imports.

Overseas stocks were mixed. Indexes fell across Europe, while a rally in Nintendo shares helped drive the Nikkei 225 higher in Tokyo.

Write to Chelsey Dulaney at chelsey.dulaney@wsj.com

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(END) Dow Jones Newswires

March 26, 2025 09:43 ET (13:43 GMT)

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