At the close, the broad S&P 500 index rose 0.6 percent and the Nasdaq composite index gained 1.2 percent, while the Dow Jones industrial average fell 0.1 percent.
Concerns about rising inflation gained momentum on Wednesday after U.S. producer prices rose 6 percent in April in the wake of the Iran war, the highest figure since December 2022.
This was evident on the U.S. stock market, where a majority of stocks lost ground, according to CNBC.
However, tech stocks moved in the opposite direction: semiconductor giant Nvidia rose just over 2 percent, while fellow chipmaker Micron rose more than 4 percent.
