Chip stocks propel S&P 500, Nasdaq to biggest gains since February as Fed holds rates – Moneycontrol

Chip stocks led a surge in the S&P 500 and Nasdaq, resulting in their biggest gains since February. This boost came as the Federal Reserve decided to keep interest rates steady. The strong performance of chip stocks played a significant role in driving the market up. The overall market reacted positively to the Fed’s decision, with investors feeling more confident in the stability of the economy. This increase in chip stocks helped propel both the S&P 500 and Nasdaq to their highest levels in months.