NEW YORK (AP) — Wall Street is clawing back some of its steep losses from Friday, as stocks swept up in the artificial-intelligence boom bounce back on Monday. Oil prices, meanwhile, are higher following fighting between Israel and Iran, but they have come off their peaks from overnight.
The S&P 500 rose 0.7% following its 2.6% drop from Friday, which was its worst since October. The Dow Jones Industrial Average was up 207 points, or 0.4%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 1.1% higher.
Some of the best performers were companies that sell computer chips, memory and other products fueling the AI boom. They had plunged Friday amid worries that their prices had simply shot too high due to AI euphoria. Such worries dragged South Korea's Kospi index down 8.3% at the start of Monday, pummeling tech stocks there like Samsung Electronics and SK Hynix.
