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Nasdaq rebounds on chips
The Nasdaq rebounded 1.1% at the start of trading on Friday, as some investors returned to buy chip stocks. The index had fallen 5.5% on Thursday and entered correction territory, closing more than 10% below its latest record high. Micron shares rose 6% and Nvidia gained 5% after steep losses in the previous session. Gains were limited, however, by rising bond yields following a stronger-than-expected U.S. jobs report and concerns about a slowdown in data-center expansion.
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