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Dow rallies 800 points as oil slides, tech stocks outside of Nvidia gain: Live updates
Stocks surged on Monday, boosted by a decline in oil prices, as traders kept a close eye on technology shares after last week's volatility.
The Dow Jones Industrial Average popped 819 points, or 1.6%. The S&P 500 rose 1.8%, while the Nasdaq Composite gained 2.1%.
U.S. West Texas Intermediate futures dropped 3% to around $87 per barrel. International benchmark Brent slid 4% to about $94 per barrel.
Friday's market partially rebounded from Thursday's brutal AI-driven sell-off, as chip stocks recovered on renewed buying. However, concerns linger in the wake of the Democrats' strong midterm results, with investors fearing that tighter regulations on data center construction, energy use, and development costs could slow the AI infrastructure boom.
Nvidia Slides Premarket as Stock Futures Rally
Nvidia's shares are sliding after the company's board launched an investigation into reports that Chief Executive Jensen Huang had been a spying target after a romantic relationship with an executive suspected of working for Chinese intelligence.
The chip giant is on track to lose hundreds of billions of dollars in market value, with the stock down about 7%.
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