BUSINESSFORTUNE
The AI trade’s worst day in a year became a buying opportunity by Monday
The Nasdaq's worst session in a year on Friday reversed by Monday, with chipmakers like Micron and Broadcom rebounding as investors viewed the drop as a buying opportunity. Asian markets, particularly South Korea's KOSPI, plunged sharply, while Nvidia's CEO projected sustained AI chip demand. A strong U.S. jobs report raised expectations for a Fed rate hike, complicating Fed Chair Kevin Warsh's position amid pressure from President Donald Trump.
Mentioned
Related Signal
Adjacent reporting
- Marvell, Micron shares tumble as the chip sector suffers its worst day in 6 years
- Markets have worst day since October as tech stocks lead the way down, traders lose hope of rate cut
- Why Intel’s stock is falling and guiding the chip sector toward its worst day of the year
- Tech stocks lead market bloodbath as fears of Fed rate hikes add to worries about the AI-fueled chip boom petering out
- Asian shares drop after plunge in Big Tech stocks gives Wall St its worst day in months
- Nvidia seals a multi-year memory chip deal with SK Hynix — but South Korean chip stocks are sinking