From The Economic Times · · 1m 20s
Stock Market Live Updates: Nasdaq Opens Higher
Nasdaq gains 1.23% as chip stocks recover from AI selloff fears.
In brief
Nasdaq gains 1.23% as chip stocks recover from AI selloff fears. US stocks open mixed with Nasdaq up 1.23% after chip stocks rebound from heavy losses following Democratic-led AI regulation concerns and a strong jobs report. Originally reported by The Economic Times.
Market Open
US stocks open mixed on Friday with Nasdaq gaining 1.23% and Dow Jones falling 0.94%.
Chip Stocks Recover
Semiconductor stocks rebound after heavy losses from AI selloff triggered by Democratic election results.
Jobs Report Impact
US jobs report shows 165,000 new jobs and unemployment at 4.1% sparking rate hike concerns.
AI Regulation Fears
Democratic-led Congress faces pressure to implement stricter AI regulations after midterm election wins.
Market Rebound
Nvidia gains 4.5% as chip stocks recover from previous session's steep losses.
Rate Hike Concerns
Investors price in 65% chance of December Fed rate hike following strong jobs data.
Market Volatility
CBOE Volatility Index jumps to 26.70 after Thursday's AI selloff.
Tech Selloff Impact
Tech stocks lost $440 billion in market value after AI regulation fears.
Market Reaction
Dollar gains against major currencies as investors seek safe havens amid tech selloff.
Investor Sentiment
Wall Street scales back long-term growth assumptions and reprices AI valuations.
Market Outlook
Investors weigh resilient labor market against tightening financial conditions for December rate decisions.
The main idea
US stocks open mixed with Nasdaq up 1.23% after chip stocks rebound from heavy losses following Democratic-led AI regulation concerns and a strong jobs report.
