Wall Street rebounds as AI shares steady after inflation jolt

Wall Street stocks rebounded Thursday after early losses triggered by disappointing inflation data, while pressure on artificial intelligence shares eased following recent heavy selling. US equities initially fell after wholesale inflation surged 6.3 percent year-on-year in September, the largest jump since 2022, driven by soaring petrol prices amid the war with Iran. Asian markets had earlier plunged, with Seoul's Kospi diving over eight percent and Japan's Nikkei sinking nearly five percent. Tech sentiment improved after Nvidia CEO Jensen Huang expressed optimism about CoreWeave's prospects, lifting the data center operator six percent following a 15 percent drop. The dollar weakened, while US oil prices rose over three percent on falling inventories, though Brent crude slipped slightly.