Nasdaq rebounds 1.1% after AI sell-off erased trillions
What's new: US hiring stayed strong with 165,000 jobs added, while Asian and European markets remained under pressure.
AI and technology shares regained some ground Friday after a global sell-off wiped trillions of dollars from market values. The Nasdaq Composite closed up 1.1%, clawing back part of its 5.5% drop a day earlier, while the S&P 500 rose 0.3% and the Dow Jones Industrial Average slipped 0.4%. The pullback had spread from the United States into Asian and European markets, where losses continued. Investors have been selling tech stocks amid worries that a Democratic midterm sweep could slow AI development through tighter rules. Fresh US jobs data added to the mixed picture, with employers adding an unexpectedly strong 165,000 jobs in September.