AI stocks tumble, then rebound after strong jobs report
The Dow fell more than 1,800 points, about 3.4%, on Thursday and the PHLX Semiconductor Index lost about 12% as investors sold AI chip and data center stocks. On Friday AI stocks rebounded: Nvidia rose 3.6%, the Nasdaq gained 1.09% and the S&P 500 0.31%, while the Dow slipped 0.46%. The same day, the government reported employers added 165,000 jobs in October, well above forecasts, and the unemployment rate dipped to 4.1%.
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