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BIZBBC News

AI stocks climb after trillions wiped from market values

Photo: BBC

Shares in artificial intelligence and technology firms have recovered slightly from an enormous sell-off that wiped trillions of dollars off stock values.

The tech-heavy Nasdaq stock index closed in positive territory following a market rout that began in the US on Thursday before spilling over to Asian and European markets into Friday.

Investors had been selling off tech shares in part due to concerns the Democrat victory in the midterm elections would mean slower artificial intelligence development.

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BIZThe Guardian

US job growth exceeds expectations in October despite economic uncertainty

‘Low-hire, low-fire’ labor market shows sluggish growth but few layoffs, with an interest rate hike expected in December The US added 165,000 jobs to the economy in October, a sign of resilience in the labor market amid ongoing war in the Middle East and inflation, according to new data released on Friday. Economists had said the labor market has been stuck in a “low-hire, low-fire” state, in which job growth is sluggish but layoffs also remain low, but October’s data surpassed economist expectations. The unemployment rate went down slightly to 4.1%,…

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