Chip stocks rebounded in morning trading. Super Micro Computer and Marvell Technology rose 7%; Direxion Daily Semiconductors Bull 3x Shares rose 6%; AMD rose 4%; Arm, SK hynix, and Intel rose 3%; Micron, Western Digital, SanDisk, TSMC, and Nvidia rose 2%.

Optical communications stocks also rebounded in morning trading. AXT rose 6%; Coherent, Semtech, and Applied Optoelectronics rose 5%; Lumentum and Ciena rose 3%; POET Technologies and Corning rose 2%.