Dow jumps 500 points as chip stocks rebound
In short
US stocks rose on Wall Street, with the Dow up about 500 points and the Nasdaq climbing more than 2%. Chip stocks recovered, while Nvidia fell on worries about an investigation involving CEO Jensen Huang.
The move matters because big tech and chip shares led the market higher, even as investors watched for key inflation data.
What the reporting says
US stocks rallied on Wall Street, with the Dow Jones rising about 500 points and the Nasdaq gaining more than 2% as chip stocks rebounded. The move came as investors focused on the investigation involving Nvidia CEO Jensen Huang and waited for key inflation data. Nvidia fell on worries tied to foreign intelligence concerns, while Microsoft, Alphabet, Marvell and Broadcom advanced.
Why it matters
US stocks climbed as traders bought back chip and tech shares, pushing the Dow Jones up about 500 points and the Nasdaq more than 2%. The rally came while investors watched the investigation involving Nvidia CEO Jensen Huang and waited for inflation data. Nvidia slipped on foreign-intelligence concerns, but Microsoft, Alphabet, Marvell and Broadcom all gained, helping lift the broader market.