Wall Street rebounds from AI selloff as Nikkei and KOSPI slump about 6%
US stocks mostly rose on Friday after a heavy AI-related selloff, while Japan's Nikkei and South Korea's KOSPI fell about 6%, Reuters reported.
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what happened
According to Reuters, US equities mostly rallied on Friday, reversing a brutal selloff from the previous session. The S&P 500 rose 0.31%, the Nasdaq Composite gained 1.1%, and the Dow Jones Industrial Average fell 0.46%. The Philadelphia Semiconductor Index jumped 4.2% after its biggest one-day drop since April 2025. Nvidia added nearly 3%, while AMD, Intel and Micron closed up between 5% and 11%.
The rebound contrasted sharply with Europe, where the STOXX 600 lost 1%, and Asia, where Japan's Nikkei and South Korea's KOSPI both slumped about 6%. US nonfarm payrolls rose by a stronger-than-expected 165,000, and wage growth came in at 3.1%, rather than the anticipated slowdown below 3%. The 10-year Treasury yield ticked up to 4.86%. Brent settled at $98.32, while spot gold was flat at $4,066.28 an ounce.
why it matters
The selloff was driven by fears that Democratic election wins would bring tighter AI regulation, and by worries that the heavy cost of data centres will limit future returns. Strong jobs data kept Treasury yields elevated, while oil and gold held steady on hopes that midterm results could push Trump to de-escalate the Iran war.
market impact
US chip stocks: rebound after a sharp drop; Asian markets under pressure
- US chip stocks pressure up — rebound after a sharp drop on fears of AI regulation
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sources
- Wall Street stocks rally after heavy AI-related selloff — Reuters, 6 November 2026 at 22:39 UTC
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