Wall Street bounces on AI stock buying after brutal week
Wall Street recovered Friday on strong buying of AI and chip stocks, though US markets still fell about 3% for the week.
US tech stocks pulled out of a nosedive on Friday, with the Philadelphia Semiconductor Index jumping 4.2% after its worst day since April 2025. Nvidia climbed nearly 3%, while AMD, Intel and Micron gained between 5% and 11%.
The rebound came after a brutal week where the S&P 500 shed 2.7%, Japan fell more than 9%, and markets globally lost about a trillion dollars in value. The ASX held relatively steady, climbing 1.3% for the week, and futures pointed to a marginal 0.2% gain on opening Monday.
Stronger than expected jobs data and an October unemployment rate of 4.1% supported the recovery.
- 2.7%
- Weekly S&P 500 loss
- More than 9%
- Japan market loss
- 4.2%
- Philadelphia Semiconductor Index gain
- 4.1%
- October unemployment rate
Why it mattersVolatile markets affect investor confidence and retirement savings, while the rebound signals renewed appetite for tech stocks.
Corroborated bysmh.com.au
