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Health

Mount Sinai Seeks to Develop Faculty Virus Testing Program

Every week, students at KIPP Infinity Middle School, in West Harlem, file into a large auditorium and take their places on the designated floor markings, making sure to stand six feet apart. Then they pull down their masks and fill sterile tubes with their spit.

The school’s teachers try to make the experience fun, running competitions to see who can fill their tube fastest and holding dance contests while students wait for their classmates to finish.

“It’s kind of enjoyable,” said Bradley Ramirez, a seventh grader at the school who likes math and Minecraft. “It’s way better than just sticking a stick up your nose.”

Bradley and his classmates are participants in a coronavirus testing pilot program created by the Mount Sinai Health System, the nonprofit Pershing Square Foundation and KIPP NYC, a network of 15 local charter schools. Since early March, the program has conducted more than 13,000 saliva-based tests of KIPP students, teachers and staff members, identifying several dozen cases of the virus.

Now Mount Sinai and Pershing Square are hoping to expand. On Tuesday they announced the Mount Sinai Covid Lab initiative, inviting additional charter schools, as well as local businesses and organizations, to sign up for the saliva-based testing program. They are putting the finishing touches on a new laboratory that they say will be capable of processing as many as 100,000 coronavirus tests a day and are preparing a formal proposal to take the program to New York City’s public schools this fall.

The announcement comes the day after Mayor Bill de Blasio said that the city planned to fully reopen schools, eliminating remote learning, in the fall.

“The way you keep a school safe, the way you make teachers feel comfortable with the reopening of schools, the way you make parents feel comfortable sending their kid, is you have a testing program,” said William A. Ackman, a hedge fund manager who founded the Pershing Square Foundation.

The testing program originated in December, when Mr. Ackman decided that he wanted to find a way to get New York City children back to school and approached Mount Sinai with a proposal: What if he provided funding for the hospital to build a laboratory that could process 100,000 coronavirus tests a day? The hope was that the lab could devote some of that capacity to corporate clients, such as businesses that wanted to test their employees, and use the revenue to fund wide-scale testing for New York City schoolchildren.

Mount Sinai quickly agreed. “We began on a concerted effort that people at Mount Sinai have really rallied around,” said Dr. David Reich, president and chief operating officer of Mount Sinai Hospital. “It’s just one of those projects where you never have to worry about people wanting to show up for your Zoom meeting — they’re all there, and they’re all smiling.”

The Pershing Square Foundation, whose trustees are Mr. Ackman and his wife, Neri Oxman, agreed to provide $20 million, and Mount Sinai began to convert an old laboratory space at its downtown campus into a high-volume coronavirus test processing center.

At the time, scientists at Mount Sinai’s Icahn School of Medicine were among a number of groups across the country that were working to develop saliva-based coronavirus tests. The gold standard diagnostic tests are known as P.C.R. tests, which can detect even minute amounts of the virus in biological specimens. During the early months of the pandemic, these tests generally required medical professionals to stick a swab deep into a patient’s nasopharynx, a procedure that can be deeply uncomfortable and put clinicians at risk.

Saliva-based P.C.R. tests, many scientists came to believe, would be safer and less invasive. They would also be much more suitable for young children than the deep, nasopharyngeal swabs. “A brain scoop, for a kid? Really? That’s a no-no,” said Dr. Alberto Paniz-Mondolfi, a pathologist at Mount Sinai who led development of the new saliva test.

As the partnership between Mount Sinai and Pershing Square began to take shape, Dr. Paniz-Mondolfi and his colleagues accelerated their work, validating their saliva test in 60 adult patients. But they knew that in the real world, children could not always be relied upon to follow clinical procedures to the letter.

“When we start getting this from the schools, we’re going to have pieces of pretzels, old gum floating in the saliva,” Dr. Paniz-Mondolfi said.

Updated 

May 25, 2021, 8:22 p.m. ET

So Dr. Paniz-Mondolfi and his colleagues asked their own children to make a sacrifice for science: to snack on an array of junk food, including pizza and Oreos, and then spit into some testing tubes. Using these samples, the researchers confirmed that even if a student’s sample was contaminated with one of these foods, the tests should still work properly.

“This was practical science, designed by parents to get their kids back to school,” Dr. Paniz-Mondolfi said.

Then it was time to pilot the tests in a real school environment. In January, Mount Sinai connected with KIPP NYC, which had been offering remote instruction since last spring. But it was hoping to reopen its schools in March, and administrators knew they would need to do some kind of in-school virus testing.

“One of the biggest fears that we had was around what it would mean to keep students safe,” said Glenn Davis, the principal of KIPP Infinity Middle School.

Mount Sinai and KIPP NYC agreed to begin a pilot saliva-testing project at five schools. The testing program, which eventually grew to include nine KIPP schools, was free for the schools and mandatory for all students who opted to return to in-person learning. (Some families chose to continue with remote education.)

Students, teachers and staff members are tested once a week. Medical assistants from Mount Sinai supervise the saliva collection and pack the bar-coded tubes into coolers for transportation back to the laboratory. (The samples are currently being processed at an existing Mount Sinai lab, but will be sent to the new lab when it opens next month.)

During the pilot project, 99.2 percent test results were returned within 24 hours, Mount Sinai says. Students or staff members who test positive typically have to quarantine for 10 days.

If a student tests positive, Mount Sinai also offers to send a team of “swabbers” to his or her home to administer free coronavirus tests to their family members and close contacts.

“We’ve detected a few mini outbreaks in that fashion, and hopefully prevented them from spreading by virtue of this screening program in the schoolkids,” Dr. Reich said.

Between March 10, when the pilot project began, and May 9, Mount Sinai conducted 13,067 tests and identified 46 coronavirus cases, a positivity rate of 0.4 percent. There have been no false positives and no known false negatives, Mount Sinai says.

The Mount Sinai team has submitted the data to the Food and Drug Administration, hoping to receive an emergency use authorization for the test.

Later this week, Mount Sinai will submit a formal proposal to New York City to take its testing program to the city’s public schools when they reopen in the fall. Mount Sinai declined to disclose the terms of the proposal, including what it plans to charge schools for the tests, but says it hopes to attract commercial clients to help defray, or possibly even eliminate, costs for schools.

In the meantime, it is approaching other charter school organizations in the city about using its tests during their summer sessions and programs.

“We can’t just sit there when this lab goes live in June and say, ‘OK, we’re waiting for September,’” Dr. Reich said. “Before the fall, we need to be doing a lot of tests.” The lab will initially have the capacity to run 25,000 tests a day, with the ability to scale up to 100,000 if there is sufficient interest.

For its part, KIPP NYC plans to expand the program to all of its schools in the fall, although the testing frequency may change, said Efrain Guerrero, managing director of operations for KIPP NYC. “I think parents see it and staff see it as just an additional safety measure that they appreciate,” he said. “For us it’s a no-brainer to continue to test at some frequency.”

Olga Ramirez, Bradley’s mother, had not initially wanted him to return to in-person learning. “I was very afraid at first,” she said. But Bradley, who desperately wanted to go back to school, managed to convince her, with the help of an informational video about the Mount Sinai testing program.

Ms. Ramirez now thinks that returning to school was the right decision. Bradley’s virus tests have all come back negative, and his grades are up since returning to in-person learning.

“I’ve seen his grades improve quite a lot, and I feel that my son is in good hands,” she said. She’s not alone, she added. “There’s so many mothers who are feeling the way I do.”

Elda Cantú contributed translation.

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Health

Joseph D. Mount Was Charged For Organizing a Hike of Extra Than 150 folks to the Grand Canyon.

The promoter of a Grand Canyon Adventure described it as an opportunity to hike along the South Rim, “one of the greatest hikes in the world”.

By September, at least 100 people from 12 different states had signed up for the one-day hike on Facebook. The organizer, Joseph Don Mount, said on Facebook that he hoped more people would sign up for the hike.

“If you want to keep inviting friends, I am determined to do this work for as many who want to leave,” Mount said, according to federal court records.

A tipster sent the Facebook post to officials in Grand Canyon National Park, where hikes were limited to no more than 11 people per group in response to the pandemic.

When a park official contacted Mr. Mount, he denied that he was planning a large-scale trip.

Still, he continued to promote the hike and organize cabin stays and shuttle rides for dozens of people according to court documents. By October 24, the day of the hike, more than 150 people had paid $ 95 to sign up for the trip.

At least 150 people showed up on the North Kaibab Trail that morning, amazing rangers and overwhelming other visitors who, according to the documents, were trying to stay away from the hikers, many of whom were not wearing masks or social distancing.

On Tuesday, Mr. Mount was tried in the U.S. District Court in Arizona on five separate charges, including filing a false report, disturbing a government employee or agent acting on an official service, promoting business in a federal park without permission, and Violation of group size restrictions on park visits and restrictions related to Covid-19.

Mr. Mount did not immediately return messages seeking comment. The federal court records did not reveal whether he had an attorney.

In an interview with The Daily Beast, Mr. Mount said he arranged the trip because “with Covid and all, people were just dying to get out.”

“I didn’t do it for a profit,” he said.

Timothy Hopp, an American park ranger, said on an affidavit that Mr. Mount raised $ 15,185 from attendees for the hiking event.

Mr. Mount planned to use the money to pay for two buses, three passenger cars, hotel accommodations, and about $ 2,900 for driver tips, meals, fuel, car pool drivers, and other expenses, according to the affidavit.

Updated

May 8, 2021, 5:12 p.m. ET

Mr. Mount “knowingly benefited from running this commercially organized” event, Mr. Hopp said. “J. Mount admitted that he would receive a net profit of $ 65.11 and that it would be enough to buy a new pair of walking sticks. “

Mr Hopp said he contacted Mr Mount in October after receiving the tip and Mr Mount told him at the time that he was taking a “small group of close rugby workers and friends of the family” with him.

Mr Hopp said he had repeatedly told Mr Mount that the limit for group tours at the edge was 11 people and that due to the pandemic, groups could not be split up to circumvent the size limit.

Mr. Mount’s planned hike has exceeded the limit set in normal times when up to 30 people are allowed in a group, Mr. Hopp said.

After the conversation, Mr. Mount informed the hikers that he was retiring as a tour guide, but the transportation plans were still in effect and huts and hotels were still booked.

“Remember – nothing will stop you from climbing the Grand Canyon that day,” he wrote, according to court records. “Now, however, there is a destination on my back and this is the best way I know to still hike” and “not be tied to either of you”.

He told the hikers he would be in his own group and advised them to travel in groups of no more than 11 people.

“Ranger Hopp – that’s my plausible denial,” Mount wrote on Facebook. “I’ll be leading on October 24th. No more groups through the Grand Canyon.”

At 5 a.m. that day, a caravan of cars arrived at the starting point. A ranger on the way saw at least 150 people walking around between 7:30 am and 8:00 am

The ranger, Cody Allinson, said that in seven months of work, according to an affidavit, he had never “seen so many people travel in the same direction in such a shortened period of time and space”.

When park rangers approached them, many hikers were evasive.

“It was obvious that they had been trained not to identify with their fellow players,” said a ranger, according to court documents.

Non-group hikers later complained to valet parking about the sheer number of people they encountered along the way.

“There was no social distancing, nobody wore masks,” one of the visitors complained, according to court records. “The group size was way out of control”

The day after the hike, some of the participants praised Mr. Mount on Facebook and suggested that everyone send him a “bonus for all the extra hard work he put in planning a weekend full of memories.”

The affidavit did not reveal whether Mr. Mount had received the bonus.

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World News

Recriminations Develop in Israel After Stampede at Mount Meron

MOUNT MERON, Israel – Calls for accountability following a disaster that resulted in the death of 45 people in a holy location in northern Israel on Saturday as questions arose over the fault of the government, religious leaders and police.

The rush to Mount Meron early Friday during an annual pilgrimage, one of Israel’s worst disasters, has been warned for years by local politicians, journalists and ombudsmen that the place has become a death trap.

On Saturday, the Israeli news media reported that senior police officers had accused the Ministry of Religious Services for signing the security procedures for the event earlier this week.

A police spokesman said, however, that no additional precautions have been taken to secure the site since the rush. Three police officers on duty at the mountain said they had not received an instruction to limit the crowd since the death on Friday. Pilgrims who stayed on the mountain continued to walk through the site of the Stampede, which had not been cordoned off.

Politicians and political commentators accused the police and other authorities of being involved in the tragedy. One of the people investigated is the Minister of Public Security, Amir Ohana, who oversees the police and emergency services and also takes part in the pilgrimage himself.

Successive Israeli governments have been accused of turning a blind eye to security issues on the mountain for more than a decade in order not to alienate the ultra-Orthodox Jews who attend the annual celebration known in Hebrew as Hillula. Seven of the last nine Israeli government coalitions have relied on the support of ultra-Orthodox parties.

Regarding the Minister of Public Security, Anshel Pfeffer, a political commentator and author, wrote in the liberal Israeli newspaper Haaretz: “Ohana would not have considered, for even a minute, restricting the arrival at Hillula in Meron and assigning the Ultra anger – Orthodox politicians who control the fate of his master, Prime Minister Benjamin Netanyahu. “

“But his predecessors didn’t consider it either,” he added.

Mr Netanyahu is currently fighting to cobble together a new coalition government that will need the support of two ultra-Orthodox parties in order to have the chance to form a parliamentary majority.

A senior police officer, Morris Chen, said Friday night that police protocols had not been influenced by political interference.

Public Security Minister Ohana posted on Twitter that the police had done their best.

“There must and will be a thorough, thorough and real investigation that will find out how and why this happened,” he later said in a video, adding, “From the bottom of my heart I want to partake of the grief of the families, who have lost the most precious of all and wish the injured a quick and complete recovery. “

The attorney general, Avichai Mandelblit, hired an independent watchdog investigating allegations of police wrongdoing to assess allegations of police negligence leading up to the disaster.

But on Saturday, Kan, the state broadcaster, said the watchdog was reluctant to oversee the investigation, given the role of other officials and entities outside of the police force.

Hundreds of thousands of ultra-Orthodox Jews visit Mount Meron every spring for the festival of Lag b’Omer. It honors the death of a second century Jewish mystic, Rabbi Shimon Bar Yochai, whose tomb is on the mountain.

Crowds were banned in 2020, but this year about 100,000 returned after a successful vaccination campaign that has allowed much of Israeli life to return to something that is nearing normal.

The event has long drawn calls to limit the number of pilgrims allowed to attend. The grounds are made up of narrow, sloping hallways and small, cramped spaces that visitors have often warned about being unsuitable for crowds.

The disaster began in the early hours of Friday when crowds gathered in a small arena next to the tomb to watch the lighting of several ceremonial bonfires. Thousands of people then tried to walk up a steep, narrow slope that was eventually connected to a narrow tunnel by a short flight of stairs.

As they neared the steps to the tunnel, some slipped onto the front metal floor of the slope, witnesses said. This resulted in a sudden blockade that trapped hundreds on the ground. As more and more pilgrims left the ceremony above, they trampled on those below.

In 2008 and 2011, the State Comptroller, a government watchdog, warned that the site’s pathways were too narrow to accommodate so many people. The township council chairman said he tried to close it at least three times.

In 2013, the police chief of Northern Israel warned colleagues about a possible fatal accident. And in 2018 the editor of a major Haredi magazine said it was a recipe for disaster.

On Friday evening, a recent State Comptroller representative said the lack of a coherent governance structure at the site made enforcing an adequate security system there more difficult.

Various parts of the website fall under the jurisdiction of four competing private religious institutions, all of which oppose government intervention.

There was “one major flaw,” Liora Shimon, deputy general manager of the controller, told Kan. “It is the fact that this site is not under the responsibility of a single management.”

Yossi Amsalem, 38, a survivor of the tragedy, said the chaotic site management added to the rush but hasn’t stopped blaming any particular group. Mr. Amsalem said the passage where the rush occurred had been used for oncoming traffic, which made movement even more difficult.

“The path should be either to get on or off,” said Amsalem from a hospital bed in Safed, a town across the Meron Valley. “There shouldn’t be this confusion.”

The tragedy met with sympathy and solidarity in the religious-secular divide in Israel. Health workers said 2,200 Israelis donated blood to help the injured on Mount Meron. The flags are flown by half of the staff in official state buildings on Sunday as the country celebrated a day of national mourning.

But the disaster also sparked a debate over religious-secular tensions in Israel and the level of autonomy that should be granted to parts of the ultra-Orthodox community that oppose state control.

While many ultra-Orthodox Jews play an active role in Israeli life, some reject the concept of Zionism, while others reject participation in the Israeli military or workforce and oppose government interference in their educational system.

Tensions mounted during the pandemic as parts of the community enraged the secular public by ignoring government-enforced regulations on coronavirus, even though the disease devastated its ranks far more frequently than the rest of the population.

For the survivors of the Meron disaster, the swarm was therefore the last in a series of struggles and setbacks, rather than a joyful post-pandemic return to normalcy and tradition.

“It was such a difficult year,” said Moshe Helfgot, a 22-year-old whose right leg was broken in two places in the swarm. “And now there is another disaster.”

Irit Pazner Garshowitz and Jonathan Rosen contributed to the coverage.

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Business

One yr on, frustrations and protests mount

Activists protest coronavirus lockdown restrictions in London, England on December 14, 2020.

NurPhoto | NurPhoto | Getty Images

LONDON – When the UK’s first coronavirus lockdown was imposed exactly a year ago, most would have struggled to imagine that after 12 months there would still be restrictions on public and private life.

With this now a reality, there are growing signs that the UK public is becoming increasingly frustrated by the pressures and protests against the lockdown hit the capital over the weekend.

Although the UK has put in place a roadmap for lifting restrictions, with the government aiming to relax most of the Covid curbs by June 21, there have been smoke signals in recent days that the government is not expecting normal life is resumed even then.

Government ministers and health experts who advise them have made a number of comments suggesting that summer holidays are now “highly unlikely” given the situation in other parts of Europe where coronavirus cases are on the rise due to new variants of the virus.

Another health expert – the head of immunization at Public Health England – suggested Sunday that masks and social distancing measures could be required for several years.

The government has also signaled that it intends to expand its powers to reverse any easing of measures, and thanks to support from the opposition Labor Party, approval to extend the emergency powers is expected by October, despite a group of lawmakers within the ruling Conservative Party Describe the move as “authoritarian”.

Combine these factors and a summer of freedom for the British public seems less likely, possibly creating the conditions for more public discontent as the British are desperate to return to “normalcy”. Especially since the vaccine rollout is advancing at a rapid pace; A record-breaking 844,285 first and second doses were given to those waiting to be shot on Saturday, up from 711,157 people who received a vaccine dose on Friday.

The toll on Great Britain in numbers

March 23rd marks the first anniversary of Prime Minister Boris Johnson’s announcement to the UK public that the country will go into a lockdown. The government has taken unprecedented measures in peacetime to stop the spread of the coronavirus, which first appeared at the time. The Chinese city of Wuhan was largely unknown in December 2019.

Then by the time Johnson made the first stay-at-home announcement that citizens are now used to, the UK had reported a daily surge in the number of deaths from the virus, with 335 deaths within 24 hours in hospitals and health workers, that deals with understanding Covid-19 and effective treatments.

British Prime Minister Boris Johnson speaks during a televised press conference at 10 Downing Street on February 22, 2021 in London, England.

Leon Neal | Getty Images News | Getty Images

A year fast forward, and the UK is in the shameful position of having the fifth highest number of coronavirus cases in the world after the US, Brazil, India and Russia, according to a record by Johns Hopkins University. To date, the UK has reported over 4.3 million infections and over 126,000 deaths – the fifth highest number of deaths in the world after the US, Brazil, Mexico and India.

A minute’s silence will be observed in the UK on Tuesday to ponder the deaths caused by the virus.

Prime Minister Boris Johnson said in a statement that “the past 12 months have taken a tremendous toll on all of us and I extend my condolences to those who have lost loved ones.” He added that the country “showed great spirit that our nation showed over the past year”.

The reasons for the higher death toll in the UK compared to continental fatalities in mainland Europe are many. However, underlying factors include higher obesity rates, pre-existing health conditions, and socio-economic factors.

What went wrong or right?

For its part, the government has been heavily criticized for late locking, failing to perform border controls and controls on incoming travelers to the UK, not adequately protecting healthcare workers and running an inadequate testing and tracing system, still viewed as below average. Overall, it has been accused of not being prepared for a pandemic and of poorly managing it upon arrival.

A ray of hope and a salvation has been the highly respected British scientific community that has been at the forefront of research into the virus, its effects and attempts to find the best way to combat it. In June 2020, for example, British health experts led by Oxford University found that an inexpensive steroid treatment, dexamethasone, can significantly reduce the risk of death in seriously ill Covid patients.

An even bigger breakthrough came when Oxford University and the Anglo-Swedish drug AstraZeneca successfully developed and tested one of the few effective vaccines. The development of the shot was all the more remarkable given that vaccines can take years to develop. UK vaccine research also received government funding.

The UK became the first country in the world to approve and use the Pfizer BioNTech vaccine in early December and has quickly embarked on a national vaccination program that has gained momentum.

In January, the AstraZeneca vaccine was added to the arsenal and the vaccination program grew stronger, surprising even the most cynical Britons and winning the country’s health experts and the praise of the National Health Service for courageous decision-making and a well-managed roll-out.

Unlike other countries in Europe which falsely questioned the effectiveness of the AstraZeneca vaccine in those over 65, the UK has had mass vaccination programs giving priority to the elderly and healthcare workers.

Health experts also believed (criticized at the time but now repeated in other countries) that the gap between the first and second dose of the coronavirus vaccines used should be extended to up to 12 weeks in order to provide more people with more initial protection .

Margaret Keenan, 90, is the first patient in the UK to receive the Pfizer / BioNtech covid-19 vaccine at University Hospital in Coventry.

Pool | Getty Images News | Getty Images

The decision was confirmed by later clinical data showing that the strategy was effective and even increased the effectiveness of the AstraZeneca vaccine. The rollout exceeded expectations. As of March 20, over 27.6 million UK adults had received a first dose of vaccine and over 2.2 million had received their second shot, according to government figures.

There is palpable unrest among members of the public – especially those who are primarily against a lockdown – as well as in the business community so that society can reopen. Anti-lockdown protests in London last weekend attracted several thousand protesters saying “Freedom!” as they marched through the capital. Later brawls between police and protesters resulted in over 30 arrests.

Protesters carry a sign reading “The Cure Is Worse Than The Sickness” as they march during a World Wide Rally For Freedom protest on March 20, 2021 in London, England.

Hollie Adams | Getty Images News | Getty Images

What happens next?

So when it comes to the vaccine, it was a case of “so far, so good”. The number of new cases, hospitalizations and deaths has steadily decreased in the UK.

The speed of the rollout was seen as critical at a time when new variants of the virus have emerged and could potentially undermine the positive effects of the vaccines.

Mainland Europe is seeing the consequences of its possibly understandably slower introduction, as the EU ordered vaccines as a block and, above all, ordered later than the UK and the US

In addition to slower supply and production problems, the EU has had to grapple with the UK’s non-prevalent vaccine reluctance and bureaucracy, which is also not that big of a problem in the UK, where the healthcare system is largely integrated -up and well-connected central system.

However, this week the UK faces a potential challenge to its rollout if EU leaders, practically meeting on Thursday, decide to block exports of block-made Covid vaccines to countries like the UK, which are in their Vaccination programs are further ahead.

Johnson has reportedly tried to stop such a move by speaking to his colleagues in France and Germany over the weekend. However, if the EU steps forward, the UK could face further supply shortages. A supply bottleneck is already expected due to a reported delay in exports from an Indian production facility.

Delays could cost the UK the hitherto successful rollout and citizens their freedoms, despite the government’s announcement to offer all adults a first dose of a vaccine by July 31st.

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World News

Shares rally as tech shares mount comeback, Nasdaq jumps greater than 4%

US stocks rose Tuesday after a decline in bond yields led investors into the battered tech sector.

The tech-heavy Nasdaq Composite rose 4.2%, hitting its best day since April 2020. Tesla stock rose 17% after a five-day streak of bad luck, heading for its biggest one-day pop since February 2020. Apple, Facebook and Amazon jumped 4% each, while Microsoft and Netflix both gained at least 3%.

The Dow Jones Industrial Average rose 250 points after hitting an intraday high at the start of the session. The S&P 500 gained 2%.

Technology stocks bounced back from heavy losses as bond yields stabilized. The 10-year government bond yield fell more than 4 basis points to 1.54%. The key interest rate stood at 1.62% on Monday.

“After lagging heavily over the past few weeks, growth / momentum stocks are exploding higher as investors get a little more comfortable with interest rates and buy what was once the most popular sector,” said Adam Crisafulli, founder of Vital Knowledge. in a note.

The Nasdaq lost 2.4% in the previous session, closing more than 10% below its February 12 high and falling into correction territory. Lately, high-growth names have come under pressure as rising interest rates make their future earnings less valuable today, making it difficult to justify the stocks’ high valuations.

Many popular technology stocks have fallen double digits over the past month on fear of interest rates. Apple is down 10% in the last month while Tesla is down more than 20%. Pandemic betting Zoom Video and Peloton fell more than 20% over the same period.

“Many of these technology stocks are oversold in the short term, so it’s no great surprise that they are seeing a good rebound,” said Matt Maley, chief marketing strategist at Miller Tabak. “The question will be whether this jump is a strong one … or a ‘dead cat blow’ that doesn’t last long at all.”

Widely pursued investor Cathie Wood of Ark Investment Management told CNBC on Monday that the recent tech sell-off opened “great opportunities” for her to buy the game-only names in her funds, which focus on disruptive tech stocks.

Wood’s flagship fund Ark Innovation (ARKK) rose 10% on Tuesday, marking the best day ever.

Meanwhile, the rally took a breather as games and cyclical stocks reopened on Tuesday. Energy was the only red sector to decline 0.7% after rising 9% this month alone. Financial stocks and industrial stocks also underperformed.

The Senate’s approval of the $ 1.9 trillion Economic Facilitation and Incentive Act had investors continue to turn to these areas of the market looking for an economic recovery. House Democrats want to pass the bill on Wednesday so President Joe Biden can sign it by the weekend.