Wall Street just pulled off a wild U-turn that had traders on the edge of their seats! At the start of the session, the bears aggressively dumped AI tech stocks, nearly sending the NASDAQ down 1.4%. But in a scene straight out of an action movie, bargain hunters rushed in at the last minute to save the market.
An unexpectedly strong close: the Dow Jones surged +1.08% (to 52,177.69 points), fueled by safe-haven flows into healthcare and consumer stocks. The S&P 500 edged up +0.33%, the NASDAQ made a remarkable comeback, gaining +0.08%, and the Russell 2000 also rose +1.37%. The big players are temporarily turning their noses up at AI as “overpriced and overhyped,” shifting toward safer assets instead.
Wall Street’s comeback is a powerful tonic, paving the way for Asian markets and South Korea’s KOSPI to soar this morning. What traders need to do now is worry less and get their positions ready to ride the green wave from Asia to the U.S.!
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