Wall Street opens sharply higher led by technology shares

• Bargain shopping following Monday's drop lifts stocks higher.
• China stabilizes yuan to ease fears over possible currency war.
• Technology shares capitalize on positive risk sentiment on Tuesday.

After posting their largest daily percentage declines of the year on Monday, Wall Street's main equity indexes started the day sharply higher on Tuesday on the back of upbeat market mood and also received a boost from investors who are looking to bargain shop. As of writing, the Dow Jones Industrial Average was up 0.75 on the day while the S&P 500 and the Nasdaq Composite were adding 0.8% and 1.3%, respectively.

Earlier today, China has taken measure to put a halt to yuan's depreciation to allow the risk-appetite to finally return to markets. The CBOE Volatility Index, Wall Street's fear gauge, was last down more than 13% to confirm the positive sentiment.

Moreover, during an interview with CNBC, White House economic adviser Larry Kudlow said President Trump was open to possible changes on new tariffs if things were to go well in the next round of trade talks in Washington in September. 

Among the 11 major S&P 500 sectors, the risk-sensitive Technology Index is now up more than 1.5% on the day to lead the rally followed by the Industrials and the Communication Services indexes. On the other hand, the so-called defensive Utilities Index is erasing 0.35%.