Stocks rebound after tech selloff that pushed Nasdaq into correction
Summary
U.S. stocks rebounded in early Friday trading after a steep selloff the previous day. Technology shares led the recovery as investors weighed whether election results could bring tighter limits on data center construction and reduce AI spending.Key Facts
- The S&P 500 gained 72 points, or nearly 1%, in early trading.
- The Nasdaq Composite rose 437 points, or 1.8%.
- The Dow Jones Industrial Average fell 129 points, or 0.2%.
- On Thursday, the Nasdaq lost more than 1,400 points and entered a correction, defined as a drop of at least 10% from its previous peak.
- Nvidia shares rose 6.6% in early trading.
- Micron Technology shares rose 9.8% in early trading.
- Investors considered whether Democratic election victories could lead to tighter restrictions on data center construction and weaker AI spending.
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