Tech stocks soared to their best session in five months on Wednesday, ahead of the highly anticipated Federal Open Market Committee (FOMC) meeting. This broad tech rally was propelled by a sharp rebound in chipmakers, buoyed by robust corporate earnings and easing concerns over chip export restrictions to China. The Federal Reserve is expected to maintain interest rates at 5.25-5.50%, but market attention is fixed on Fed Chair Jerome Powell's press conference at 2:30 p.m. ET, for any hints of a potential rate cut in September, which market participants have fully priced in. The Nasdaq 100 surged 2.7%, with 87 of its constituents in positive territory, led by Nvidia Corp. (NASDAQ:NVDA), which jumped 11%. The tech-heavy index hasn’t experienced such a rally since February 2024. The Biden administration is planning to introduce new regulations next month to restrict the export of semiconductor manufacturing equipment to Chinese chipmakers, with key allies like Japan, the Netherlands, and South Korea being exempt, according to Reuters. The iShares Semiconductor ETF (NYSE:SOXX) soared over 5%, also marking its strongest session since late February 2024. The S&P 500 also posted solid gains, rising 1.6%. Small caps, tracked by the iShares Russell 2000 ETF (NYSE:IWM), increased by 1.1%, eyeing their highest close since January 2022. Blue chips climbed ...