US stocks recover some of last week's sell-off after oil prices fall sharply
NEW YORK — The U.S. stock market is rising Monday and recovering some of last week's sell-off that was led by the tech and AI industries. The S&P 500 climbed 0.6 percent, coming off its third straight losing week, and pulled within 2.5 percent of its all-time high. The Dow Jones Industrial Average was up 539 points, or 1 percent, as of 11:45 a.m. Eastern time, and the Nasdaq composite was 0.7…
On Monday, U.S. stocks rebounded slightly following a significant sell-off last week driven by the tech and AI sectors. The S&P 500 gained 0.6 percent, ending a three-week decline and nearing its highest point ever. The Dow Jones Industrial Average increased by 539 points, or 1 percent, while the Nasdaq composite rose 0.7 percent.
This upward movement was partly attributed to a sharp decline in oil prices, which plunged 7.4 percent to $105.03 per barrel. The price of Brent crude, the global industry standard, has fluctuated between roughly $70 and $120 per barrel since the war in Iran began, often reversing direction quickly. Additionally, the artificial-intelligence industry has been experiencing instability and criticism for its rapid rise and potential bubble status, adding to the recent uncertainty in the stock market.
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.
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