Nasdaq Jumps 1.67% as Nvidia Rebounds 6.5% and Chip Stocks Recover
Updated
Updated · Fox Business · Nov 5
Nasdaq Jumps 1.67% as Nvidia Rebounds 6.5% and Chip Stocks Recover
3 articles · Updated · Fox Business · Nov 5
Summary
The Nasdaq climbed 1.67% Friday, rebounding after the prior session's AI-driven selloff pushed the tech-heavy index into correction territory.
Nvidia rose 6.5% and the broader semiconductor index gained more than 6%, with AMD, Intel and Micron up 7% to 13% after chip shares had plunged more than 12% a day earlier.
Investors were still digesting Democrats' sweeping midterm victories, which fueled worries about tougher AI regulation and slower data-center development after an initial post-election rally.
U.S. payrolls added 165,000 jobs in October versus forecasts for 65,000, while unemployment edged down to 4.1%, helping offset some market anxiety even as the Dow slipped 0.2%.