Markets
Wall Street Rebounds From the AI Rout as Oil Slides, but Nvidia Lags Its Chip Rivals
Image: distelAPPArath via Pixabay
The S&P 500 and Nasdaq were up about 2% or more by midday as chip stocks bounced, crude fell and Nvidia dropped on a board investigation.
By Emma Cruz ·
U.S. stocks climbed sharply on Monday, Nov. 9, as technology shares recovered some of the ground lost in last week's artificial intelligence selloff, with falling oil prices adding to the lift. By midday, the S&P 500 was up about 2.2% and the Nasdaq Composite about 2.6%, according to Yahoo Finance's market quotes as of 12:09 p.m. ET [1]. In early trading, the Dow Jones Industrial Average was up about 1.7%, Al Jazeera reported [2].
The bounce follows a rough stretch. The S&P 500 fell 2.7% last week, its worst weekly drop since the April 2025 tariff shock, and ended Friday about 5.7% below the record high it set last month, The Associated Press reported [3]. Concerns that Democratic wins in the midterm elections could slow construction of AI data centers helped drive the selloff, the AP said [3]. Yahoo Finance noted the Nasdaq had entered correction territory during the slide [1].
Chipmakers other than Nvidia led the recovery. AMD rose more than 10% in early trading, while Amazon gained 3.8% and Microsoft 2.2%, Al Jazeera reported [2]. Yahoo Finance said Micron and ASML also surged, and it described the damage from the Nvidia news as largely contained to that one stock within the semiconductor group [1]. Asian markets set the tone overnight: Japan's Nikkei 225 closed up 2.3%, and Taiwan's Taiex rose 4.9% as TSMC gained 4.7%, the AP reported [3].
Nvidia was the exception. Its shares fell more than 4% in early trading after the company's board opened an independent investigation tied to reports about CEO Jensen Huang, Al Jazeera said [2]. Yahoo Finance reported the stock was down as much as 8% at one point before easing [1]. The company is valued at roughly $4.5 trillion, about 7% of the S&P 500 by Yahoo's estimate, which helps explain why a single stock can restrain index gains [1].
Energy was the other main driver. Early Monday, Brent crude was down about 2% at $96.38 a barrel and U.S. crude was down 1.5% at $89.56, the AP reported [3]. Yahoo Finance later said Brent was trading below $94, and that the average U.S. gasoline price had slipped to $4.01 a gallon, according to AAA, about 10% below a late-September peak near $4.48 and down for six straight weeks [1]. Lower fuel costs matter for the inflation outlook, which investors are weighing ahead of this week's price data [1].
Rates remain a counterweight. Yahoo Finance showed the 10-year Treasury yield near 4.88% and said the strong October jobs report had given the Federal Reserve a reason to consider rate increases [1]. The AP noted that employers hired far more workers in October than economists expected [3]. A hotter-than-expected inflation reading could revive worries about tighter policy even as the AI trade stabilizes.
Strategists were split on how to read the week's swings. DataTrek's Nicholas Colas said the recent moves looked specific to AI rather than a sign of a coming recession, Yahoo Finance reported [1]. Corporate earnings continued, with Hims & Hers, Rocket Lab and monday.com among the companies reporting Monday [1].
What to watch next: whether the rebound holds if Nvidia remains under pressure, how oil trades as talks involving Iran develop, and whether this week's inflation data changes expectations for the Fed. Trading is volatile after the largest weekly decline in more than a year, and figures in this article reflect early and midday trading and may change by the close.
Sources:
[1] Yahoo Finance, "Stock market today: Nasdaq rallies despite Nvidia stock slide, Dow and S&P 500 rise as AI stocks rebound", November 9, 2026. https://finance.yahoo.com/markets/live/stock-market-today-monday-november-9-dow-sp-500-nasdaq-nvidia-090535419.html
[2] Al Jazeera, "Nvidia shares slump amid investigation into CEO Jensen Huang", November 9, 2026. https://www.aljazeera.com/economy/2026/11/9/nvidia-shares-slump-amid-investigation-into-ceo-jensen-huang
[3] The Associated Press (via BNN Bloomberg), "World markets bounce back after a recovery for AI stocks on Wall Street", November 9, 2026. https://www.bnnbloomberg.ca/markets/dow-jones/2026/11/09/world-markets-bounce-back-after-a-recovery-for-ai-stocks-on-wall-street/
This article was produced with AI assistance. It is for informational purposes only and is not financial advice. StockVolt and its authors may hold positions in securities mentioned.