US tech shares rebound after sharp losses as AI stocks recover
The Nasdaq and S&P 500 rose on Monday as AI shares recovered from steep recent falls, though higher-rate concerns had driven both indices to their worst weekly losses since June.
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US technology shares rebounded on Monday after last week’s sharp losses, as investors bought AI-related stocks and slightly cheaper oil offered some support to the wider market. Oil prices nevertheless remained at their highest level in five months, according to ANP, in a report published by Nieuws.nl. [1]
The Nasdaq rose 1.1% to 26,430.89 points, while the S&P 500 gained 0.4% to 7,690.73. The Dow Jones Industrial Average slipped fractionally to 51,966.03. [1]
The gains followed a difficult week for the two main US indices: the S&P 500 fell 2% and the Nasdaq 4.5%, their biggest weekly declines since June. The report attributed the sell-off chiefly to investor concerns that higher interest rates could constrain spending on AI infrastructure, particularly by data-centre operators. Monday’s rise marked a recovery, but did not erase those losses.
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