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Nasdaq Gains on Tech Revival
U.S. stock indices rose, especially the Nasdaq, by 1.1% as the technology sector recovered following a sharp sell-off last week due to fears related to artificial intelligence. Intel’s stock increased by 2%, while AMD and MicroTechnology stocks gained 1% and 2%, respectively. Meanwhile, Corsair’s stock declined by 3% despite an upgrade in its rating, after dropping more than 25% last week amid financial concerns triggered by company revenue reports. The markets experienced a significant weekly decline, with the S&P 500 falling by 2% and the Nasdaq by 4.5%. Global sell-offs in technology shares intensified due to worries about slowed earnings growth for AI-related companies and the impact of rising interest rates on their investments.
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