US tech rebounds after AI spending worries, Apple drags Dow
Business
US tech stocks saw a bit of a rebound Tuesday afternoon after recent worries about companies spending on artificial intelligence.
The S&P 500 edged up 0.37%, and the Nasdaq, home to lots of big tech names, rose 0.83%.
Apple dragged down the Dow Jones by 0.38% after sharing a worse-than-expected margin forecast.
NVIDIA jumps 2.3%, Brent crude slides
NVIDIA topped the winners with a 2.3% jump, while AMD, Broadcom, and Micron also posted solid gains.
This uptick comes just after the Nasdaq's worst monthly drop since March last year, mostly thanks to AI spending concerns and talk of more regulation if Democrats do well in Tuesday's midterm elections.
So far, markets aren't panicking.
Meanwhile, Brent crude oil prices slid to $103 a barrel, which eased investors.