S&P and Nasdaq Rebound Led by Tech
The S&P 500 increased 0.4% and the Nasdaq soared 1.2% on Friday while the Dow Jones fell around 465 points. The moves followed a sharp sell-off in the previous session, which marked the market's worst one-day losses since April 2025 and pushed the Nasdaq into correction territory. Concerns that a Democratic sweep of Congress could lead to tighter AI industry regulation and lower investment in the sector weighed on sentiment, prompting investors to rotate out of technology and AI-related stocks and triggering a broader risk-off mood. However, dip-buying emerged on Friday and the sell-off paused, particularly across major chipmakers. Technology was the top performing sector while consumer staples underperformed. Nvidia soared 5.9%, Broadcom rose 4.9%, Micron Technology surged 6.8% and AMD advanced 10.2%, while Tesla added 1.9%. Meanwhile, the jobs report pointed to a robust labour market. On the week, the S&P 500 is down nearly 3%, the Dow off 0.5% and the Nasdaq is lower by around 4.4%.
The S&P 500 increased 0.4% and the Nasdaq soared 1.2% on Friday while the Dow Jones fell around 465 points. The moves followed a sharp sell-off in the previous session, which marked the market's worst one-day losses since April 2025 and pushed the Nasdaq into correction territory. Concerns that a Democratic sweep of Congress could lead to tighter AI industry regulation and lower investment in the sector weighed on sentiment, prompting investors to rotate out of technology and AI-related stocks and triggering a broader risk-off mood. However, dip-buying emerged on Friday and the sell-off paused, particularly across major chipmakers.
Technology was the top performing sector while consumer staples underperformed. Nvidia soared 5.9%, Broadcom rose 4.9%, Micron Technology surged 6.8% and AMD advanced 10.2%, while Tesla added 1.9%. Meanwhile, the jobs report pointed to a robust labour market. On the week, the S&P 500 is down nearly 3%, the Dow off 0.5% and the Nasdaq is lower by around 4.4%.