Wall Street ended the session sharply higher on March 31, with risk appetite returning across the board as investors rotated aggressively into biotech and large-cap technology names. The S&P 500 jumped 2.91%, the Nasdaq rallied 3.83%, and the Dow gained 2.49%, capping a strong recovery day after recent geopolitical volatility.
In the day’s biggest movers, Apellis Pharmaceuticals (APLS) emerged as the standout gainer, soaring 135.40%, followed by U-BX Technology (UBXG) (+115.48%), Taboola warrants (TBLAW) (+85.19%), 3 E Network Technology (MASK) (+83.06%), and Elevai Labs (ELAB) (+68.26%). The sharp upside in healthcare and speculative tech counters reflected strong momentum-driven buying interest into month-end.
On the losing side, pressure remained concentrated in small-cap and thematic names. Nasdaq Crypto Index-linked NCI dropped 69.57%, while IO Biotech (IOBT) declined 65.95%. Other major decliners included T1 Energy (TE) (-61.23%), PepGen (PEPG) (-58.98%), and Wearable Devices (WLDSW) (-58.06%).
Trading activity was dominated by both retail-heavy penny counters and mega-cap ETFs. Hitek Global (HKIT) led share volume with over 718 million shares, followed by Linkers Industries (LNKS) and Ridgetech (RDGT). In dollar terms, institutional flows were centered on benchmark ETFs and semiconductor leaders, with SPY, QQQ, and NVIDIA (NVDA) topping the list. Tesla (TSLA) and Micron (MU) also saw strong notional turnover as growth stocks extended gains.
