US stocks end higher as AI shares stabilise
Wall Street stocks bounced back from a shaky start after disappointing inflation data on Thursday, while pressure on artificial intelligence shares moderated somewhat following a battering of Asian tech shares. US equities sold off early in day following a drubbing in Asia that saw Seoul's Kospi dive more than eight percent – leading to a brief trading halt – before slightly paring the losses. Japan's Nikkei sank nearly five percent as unease over tech names following the Nasdaq's nearly two-percent fall on Wednesday. Analysts had cited worries over the risk surrounding some massive AI investments had prompted the selling. Figures released on Thursday showed US wholesale inflation surged past analysts' expectations in September – a 6.3-percent increase from one year ago – marking its biggest year-on-year jump since 2022 as petrol prices rocketed due to the war with Iran. But analysts said equities received some support from a pull-back in US Treasury bonds despite hot inflation readings this week. The retreat in yields suggests investors see "a good opportunity to take some money out of equity and rebalance it into fixed income," said Tom Cahill of Ventura Wealth Management. Tech investors were also cheered by comments from Nvidia CEO Jensen Huang expressing optimism about CoreWeave's prospects...
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