Wall Street edges higher Monday after a sharp sell-off on Friday driven by concerns around valuations tied to the artificial-intelligence boom. The S&P 500 rises about 0.7%, following a 2.6% drop on Friday—its worst since October. The Dow is up slightly, while the Nasdaq gains about 1.4% in midday trading. Shares of companies supplying chips, memory, and related products for AI are among the strongest performers as investor sentiment improves from earlier fears that prices had risen too far on AI “euphoria.” Micron Technology stands out, rising sharply after a steep Friday decline, and other semiconductor and memory-related names also recover.
Oil prices, meanwhile, are higher than earlier levels following fighting between Israel and Iran, but they come off overnight peaks. In South Korea, the Kospi initially falls heavily and tech stocks such as Samsung Electronics and SK Hynix are hit, reflecting regional exposure to the same AI-linked sell-off. The report says prices and sentiment improve as trading progresses into Europe and then New York.
