US Stocks Rise as Tech Shares Pare Steep Drop: Markets Wrap

US stocks climbed after the tech sector trimmed the sharp decline it suffered earlier in the session as traders contended with the AI chip rivalry between Nvidia Corp. and Alphabet Inc.

The S&P 500 rose 0.5% after swinging between modest gains and losses for a few hours. The Nasdaq 100pared its 1.3% drop. Markets remain on shaky ground Tuesday after a deluge of delayed economic data and signs of competition heating up in the artificial intelligence arena. This comes a day after stocks had soared on optimism that the Federal Reserve will cut interest rates next month.

Among individual ...