Nasdaq Rebounds 1.9% After $2.3 Trillion AI Rout as U.S. Adds 165,000 Jobs

3 articles · Updated · Yahoo Finance · Nov 6

The Nasdaq rose 1.9% on Friday, clawing back ground a day after sliding into correction territory, while the S&P 500 gained 1% and the Dow fell 0.4%.
Thursday's sell-off wiped out $2.3 trillion in market value as fears of slower data-center construction and weaker AI spending hammered chip stocks including Nvidia, AMD, Micron and Sandisk.
The VIX had jumped 70% to 28 during that rout, underscoring how the AI-driven shock spread beyond tech even as investors returned to beaten-down chip shares.
A hotter labor backdrop also shaped trading: the U.S. added 165,000 jobs in October, well above September's revised 60,000 and economists' 65,000 forecast.
Despite Friday's rebound, major indexes were still headed for steep election-week losses as Democrats retook Congress and oil slipped below $100 amid shifting Middle East war expectations.

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