Semiconductor stocks fell at the start of March, with the VanEck Semiconductor ETF (SMH) losing more than 1% and Nvidia, AMD, and Micron each down more than 1%, as rising Treasury yields pressured the broader market. Energy stocks broadly advanced alongside oil prices, with the State Street Energy Select Sector SPDR ETF (XLE) climbing more than 1% on persistent Middle East tensions. Robinhood Markets gained more than 2% after Morgan Stanley upgraded the stock to overweight from equal weight. Novartis shares rose 4% on positive trial data for its multiple sclerosis drug remibrutinib, which significantly reduced relapse rates compared to other treatments. Duolingo advanced 6% following an upgrade by Evercore ISI to outperform from in line.
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