Dow surges more than 400 as tech’s best day since April sparks a market-wide rally

(CNBC) — Stocks ripped higher on Wednesday as tech shares posted their best day in about four months, clawing back some of the steep losses that knocked the S&P 500 and Nasdaq Composite back below their record highs.

The Dow Jones Industrial Average closed 439.58 points higher, or 1.6%, at 27,940.47. The S&P 500 jumped 2% to 3,398.96 and the Nasdaq Composite advanced 2.7% to 11,141.56. It was the S&P 500′s best day since June 5, when it popped 2.6%. The Nasdaq had its biggest one-day gain since April 29, when it surged 3.6%.

At the S&P 500 sector level, tech rallied 3.4% and posted its biggest one-day gain since late April 29. Over the past week, however, the sector is still down 8.4%.

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