Nasdaq rebounds after tech stocks stabilise, Tesla's shares jump 10.92%

Analysts said the Nasdaq's ability to hold its 50-day moving average, a technical support level, was key in reversing the market's direction.

Wall Street's main indexes ended higher on Wednesday to snap a three-session losing skid as investors jumped back in to take advantage of the pullback in technology-related stocks, a day after the Nasdaq confirmed correction territory.

Tesla Inc shares rebounded 10.92% after suffering their biggest one-day percentage drop in the prior session, while Apple Inc, Microsoft Corp and Amazon.com Inc - the top three US public companies by market capitalization - each rose by at least 3%.

Other stay-at-home winners such as Facebook Inc and Google-parent Alphabet Inc also climbed, a day after the tech-heavy Nasdaq ended 10% below its Sept. 2