The stock market surged on Tuesday, extending a strong rebound from last week’s rough patch as concerns about the omicron variant continued to abate and investors bet on shares linked to the economic recovery.

Stocks added to Monday’s gains, continuing a rebound from last week’s selloff, when market volatility surged after the emergence of the new Covid omicron variant.

Shares of companies linked to the economic recovery—including airlines, cruises, casinos and other travel-related stocks—continued to lead the stock market higher.

Investors now appear to be less spooked by the omicron variant amid reports that it causes milder symptoms than feared, with the nation’s top pandemic expert Dr. Anthony Fauci saying on Sunday that initial data was “encouraging.”

Despite struggling in recent weeks due to Covid-related selling, tech stocks staged a comeback rally on Tuesday, while shares of chipmakers like Intel and Nvidia also registered big gains, rising around 3% and 8%, respectively.

Shares of Big Tech giants, including Microsoft, Alphabet, Amazon and Apple, all rose by around 2% or more.

-Forbes