US Stock Indices Gain as Tech Sector Recovers

The S&P 500 rose more than 0.5% and the Nasdaq gained over 1.5% on Friday, while the Dow was near flat. The moves followed a sharp sell-off in the previous session, the worst one-day losses since April 2025, that pushed the Nasdaq into correction territory. Concerns that Democratic wins in the midterms could lead to tighter AI-industry regulation and lower sector investment drove investors out of tech and AI-related stocks, triggering a broader risk-off mood. However, a rebound in chipmakers propped up the market on Friday as dip buyers emerged, leading technology stocks to a sharp recovery. Nvidia gained over 3%, Micron jumped 5%, AMD soared nearly 10%, Tesla rose over 4.5%, and Lam Research surged 8%. Among hyperscalers, Alphabet gained more than 1% and Meta rose over 2%. On the data front, nonfarm payrolls topped estimates and the unemployment rate edged lower. For the week, the S&P 500 is down nearly 3%, the Dow over 1%, and the Nasdaq around 5%.