AI stocks climb after trillions wiped from market values
Source: BBC ·
Investors had been selling off tech shares in part due to concerns the Democrat election victory would mean slower AI development.
From the source
Shares in artificial intelligence and technology firms have started to climb following an enormous sell-off on Thursday that wiped trillions of dollars off stock values. The tech-heavy Nasdaq stock index opened higher following a market rout that began in the US on Thursday before spilling over to Asian and European markets into Friday. Investors had been selling off tech shares in part due to concerns the Democrat victory in the midterm elections would mean slower artificial intelligence development. However the latest US employment figures added to a mixed picture for American markets on Friday morning, with an unexpectedly strong 165,000 jobs added to the economy in September. The Nasdaq Composite opened up 1.23% and continued to gain in early trading, reversing some of its 5.5% fall from Thursday. The S&P 500 - home of the largest publicly-traded US companies that are not in the technology sector - also opened up slightly, while the Dow Jones Industrial Average opened a little…