AI Stocks Rebound on Strong US Jobs Data, Nasdaq Recovers 1.1%

The Nasdaq rebounded 1.1% on Friday, recovering from a sharp 5.5% selloff, buoyed by stronger-than-expected U.S. October jobs data showing 165,000 new positions. The rebound followed investor panic over the Democratic Party's midterm election sweep, which raised fears of stricter AI regulations. While U.S. markets stabilized, South Korea's Kospi plunged 6%, with chipmaker SK Hynix dropping over 10%, and European markets also closed lower. Market experts describe the correction as a necessary "purgatory" phase, pressuring tech giants to demonstrate financial discipline and prove AI's real economic value. The unemployment rate fell to 4.1%, suggesting the economy remains resilient despite market turmoil.