Today’s Market Recap：U.S. Treasury Steps In to Stabilize Markets,Stocks Rally, Bitcoin Breaks $70,000, Moderna Surges 180%

TradingKey - The U.S. Treasury Department announced market intervention measures, and the three major U.S. stock indices reversed their three-day losing streak to close higher across the board.

At the close, the Dow Jones Industrial Average rose 0.22% to 53,463.05; the Nasdaq Composite gained 0.16% to 26,331.09; and the S&P 500 increased 0.21% to 7,707.98.

A major breakthrough in Moderna’s (MRNA) cancer vaccine sent its stock soaring 180%, while Merck (MRK) followed suit with a gain of nearly 13%, leading the Dow Jones Industrial Average. Most tech stocks rebounded, with Tesla (TSLA) rising more than 4%, while Nvidia (NVDA) bucked the trend, falling about 1%. The chip sector came under pressure overall, with the Philadelphia Semiconductor Index (SOX) dropping more than 2%.

In the bond market, the yield on the 30-year U.S. Treasury note briefly plunged 10 basis points following intervention by the Treasury Department. The U.S. Dollar Index fell to its lowest level since late May, while the offshore yuan rose above 6.73 to hit a new high in more than three years. Bitcoin (BTC) briefly surpassed $70,000 during the session, and Ethereum (ETH) rose as much as 10%.

In the commodities market, as tensions between the U.S. and Iran continued to escalate, WTI crude oil rose for the fourth consecutive day, hitting a new high in over three weeks. Gold (XAUUSD) rebounded sharply, breaking above $4,500 for the first time in more than two months.