US tech stocks rally after dramatic plunge but markets remain shaky | BBC News
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US tech stocks rally after dramatic plunge but markets remain shaky | BBC News
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US tech stocks have shown signs of a partial recovery after the value of shares in artificial intelligence and technology firms plummeted worldwide.
The drop off came after the Democrats' resounding win in the US midterms, which sparked fears of a reduction in AI development.
On Thursday the tech-heavy Nasdaq composite index closed down by more than 5.5%, losing an estimated $2.5tn in market value, according to Dow Jones data.
Businesses closely linked to artificial intelligence development, particularly makers of key computer chips and semiconductors, took the hammering.
Share prices in US markets have edged up on Friday. Chipmaker Nvidia's share price jumped by over 7% and Elon Musk's SpaceX was up 6.19% - though both are yet to recover their heavy losses from yesterday. It's a similar story for chipmakers AMD and Micron.
Reeta Chakrabarti presents BBC News at Ten reporting by Faisal Islam.
Subscribe to our channel here: https://bbc.in/bbcnews
For the latest news download the BBC News app or visit BBC.com/news
#BBCNews
The drop off came after the Democrats' resounding win in the US midterms, which sparked fears of a reduction in AI development.
On Thursday the tech-heavy Nasdaq composite index closed down by more than 5.5%, losing an estimated $2.5tn in market value, according to Dow Jones data.
Businesses closely linked to artificial intelligence development, particularly makers of key computer chips and semiconductors, took the hammering.
Share prices in US markets have edged up on Friday. Chipmaker Nvidia's share price jumped by over 7% and Elon Musk's SpaceX was up 6.19% - though both are yet to recover their heavy losses from yesterday. It's a similar story for chipmakers AMD and Micron.
Reeta Chakrabarti presents BBC News at Ten reporting by Faisal Islam.
Subscribe to our channel here: https://bbc.in/bbcnews
For the latest news download the BBC News app or visit BBC.com/news
#BBCNews
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