AI stocks recover some of last week's sell-off, while oil prices come off overnight highs

The Korea Times

AI stocks recover some of last week's sell-off, while oil prices come off overnight highs

NEW YORK — Wall Street is recovering some of its sell-off 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 percent, coming off a drop of 2.6 percent from Friday that was its worst since October. The Dow Jones Industrial Average was up 50 points, or 0.1 percent, as of 12:01 p.m. Eastern time, and the Nasdaq composite was 1.4 percent 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 shot too high due to AI euphoria. Such worries dragged South Korea’s Kospi index down 8.3 percent early Monday, pummeling tech stocks there like Samsung Electronics and SK Hynix. But prices recovered as trading moved westward through Europe to New York. Micron Technology rose 11.1 percent after sliding 13.3 percent Friday for the largest loss in the S&P 500. That resumed a run where its

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