Wall Street Rebounds as Investors Return to Technology Stocks

NEW YORK, Oct 20 — US stocks rebounded on Monday as investors returned to technology counters following last week’s sharp sell-off linked to concerns over artificial intelligence investments and rising financing costs.

The Nasdaq Composite led gains, rising 1.11 per cent to 26,430.89, while the S&P 500 advanced 0.41 per cent to 7,690.73. The Dow Jones Industrial Average edged down 0.07 per cent to 51,966.03.

Semiconductor stocks recovered strongly, with Intel gaining 2.0 per cent, AMD rising 1.8 per cent and Micron Technology climbing 3.0 per cent as bargain hunting emerged across the sector.

Investors Return

European markets were weaker, with the STOXX Europe 600 declining 0.80 per cent amid broader investor caution. In Asia, trading was mixed, with South Korea’s KOSPI gaining 1.76 per cent and China’s Shanghai Composite adding 0.39 per cent, while Japan’s Nikkei slipped 0.62 per cent.

Meanwhile, Brent crude fell 0.70 per cent to US$109.18 per barrel. Investors are now focusing on upcoming earnings reports from Tesla and Meta for fresh signals on the strength of the AI-driven market rally.

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