<a s slide into correction territory on Thursday.
Both the S&P 500 and Nasdaq recovered from a difficult session on Thursday as market participants evaluated the implications of the <a election sweep. The massive sell-off on Thursday, which wiped out $3 trillion in market value, was primarily driven by anxieties regarding a potential deceleration in AI investment and data center development.
On Friday, semiconductor stocks including Nvidia (NVDA), AMD (AMD), Micron (MU), and Sandisk (SNDK) managed to regain some ground lost during the previous session’s widespread decline, which had also triggered a spike in the VIX Volatility Index (^VIX).
(^DJI)
Oil prices have also remained a factor, with global benchmark Brent crude (BZ=F) futures dropping under $100 per barrel. Energy traders are continuing to monitor the situation in the Middle East, as the possibility of renewed conflict continues to impact market sentiment.
In other news, the Labor Department announced that the US economy added 165,000 jobs in October, surpassing the revised figure of 60,000 from the prior month and exceeding the 65,000 jobs that economists had anticipated.
