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AI Chip Stocks Recover After Historic Selloff
AI stocks, including Nvidia and AMD, staged a comeback after a historic selloff that affected markets from Wall Street to Asia. Nvidia rose 2.78% to $186.64, recovering from a 9.3% drop the previous day. The recovery came after South Korea's KOSPI lost 6% and Taiwan's benchmark dropped more than 8%, its worst week in months. The US Tech 100 cash-market proxy also recovered, gaining 1.85% to 27,007.3, but remains down more than 5.5% this week. Political concerns, including voter preferences for limiting development, and increased borrowing costs have raised doubts about the sustainability of AI investments.