Shares of companies in the semiconductor space, including NVIDIA Corp (NASDAQ:NVDA) and Micron Technology Inc (NASDAQ:MU), are trading higher Wednesday, rebounding from recent weakness amid a rise in yields and concerns over fed tapering, which has caused volatility in the sector.
The December meeting summary showed that Fed members are ready to start raising interest rates and tapering bond buying. The Fed also signaled that it's prepared to engage in conversations about reducing holdings of Treasurys and mortgage-backed securities.
