US tech stocks recover after selloff spooks investors over AI spending
Midterms didn’t appear to have huge impact, though predicted wins for Democrats could mean more regulation
TL;DR
- US tech stocks recovered on Tuesday afternoon after a selloff related to AI spending concerns.
- The midterm elections had little immediate impact on Wall Street.
- The S&P 500 and Nasdaq saw gains, while the Dow experienced a slight drop.
- Nvidia, Advanced Micro Devices, Broadcom, and Micron Technology saw share price increases.
- The selloff ended a trend where the Nasdaq experienced its largest monthly decline since March 2025 in October.
- Small drops in oil prices also contributed to investor relief.
- Wall Street has seen significant growth this year, driven by AI investments.
- Historical data suggests that markets tend to recover and perform well after elections.