Nasdaq rebounds as chip stocks recover from AI sell-off

foxbusiness.com —

The Nasdaq Composite rose 1.09% on Friday, recovering from a sharp sell-off that had pushed the exchange into correction territory amid concerns about AI regulation following the midterm elections. Semiconductor stocks led the rebound, with the sector index rallying 4.2%. Nvidia gained 2.8%, Advanced Micro Devices jumped 11%, and Sandisk rose nearly 4%. The gains followed Thursday's plunge, when investors weighed the potential impact of Democrats' sweeping midterm victories on AI regulation and data center development. U.S. payrolls data released Friday showed the economy added 165,000 jobs in October, surpassing economists' estimates of 65,000, while the unemployment rate fell to 4.1%. Tesla rose 4.2% and SpaceX gained 8.6%, while Atlassian dropped 16% and Airbnb climbed 12%.


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