Nasdaq rebounds as AI stocks recover from selloff

The Nasdaq rose 1.1 percent on Friday as bargain hunters bought AI-related stocks, recovering from recent sharp losses, while the Dow Jones fell 0.5 percent. Chipmakers led the rebound, with Nvidia up 3.6 percent, AMD up 9.9 percent, and Intel up 7.4 percent. A stronger-than-expected October jobs report, showing unemployment at 4.1 percent, fueled speculation of a December Fed rate hike. The selloff was triggered by US midterm election results, which raised concerns about AI expansion due to public opposition over jobs and resource-intensive data centers. Airbnb shares jumped 11.4 percent after raising its 2026 revenue forecast.