AI stocks climb after trillions wiped from market values

AI and tech shares recovered slightly after a sell-off wiped trillions of dollars from stock values, with the Nasdaq Composite closing up 1.1% on Friday, partly reversing its 5.5% fall, while the S&P 500 rose 0.3% and the Dow ended down 0.4%. Asian and European markets fared worse, with South Korea's Kospi down 6% and the UK's FTSE 100 down 1.01%, amid concerns that the Democrat midterm victory could mean slower AI development and questions over whether heavy AI spending will pay off. US employers added 165,000 jobs in October, more than double analyst expectations, and the unemployment rate eased to 4.1% from 4.2% in September.