Nasdaq climbs as chip and AI-linked stocks bounce back
The tech-heavy Nasdaq Composite led Wall Street gains on Monday as investors returned to the chip sector and other AI-related stocks following last week's bruising selloff, while investors waited for key corporate earnings reports. The benchmark S&P 500 and Nasdaq had posted their biggest weekly drop since late June on Friday, as concerns that higher interest rates could curb investments in AI…
Tech-heavy Nasdaq Composite led Wall Street's rebound on Monday, as investors regained confidence in the chip sector and AI-related stocks after last week's sharp sell-off. The S&P 500 and Nasdaq both suffered their largest weekly decline since late June on Friday, driven by fears that rising interest rates might dampen investment in AI infrastructure.
The primary concern was the financing of the expensive AI build-out, which has put pressure on companies supporting the U.S. bull market, marking its fourth anniversary. The Philadelphia Semiconductor Index experienced a 2% increase, signaling a potential end to an eight-day losing streak, which had seen the index drop a staggering 15.7% over its longest decline since October 2008.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Nasdaq climbs as chip and AI-linked stocks bounce back businesstimes.com.sg
- Nasdaq climbs as US chip and AI-linked stocks bounce back straitstimes.com
- S&P 500, Nasdaq climb as AI-linked stocks recover ahead of earnings investing.com
- Nasdaq climbs as chip and AI-linked stocks bounce back koreatimes.co.kr
