Monday’s U.S. stock market rally recovered most of its losses from late last week even though the share price of chip maker Nvidia fell more than 5% due to a leadership scandal, according to a report by the Associated Press.
After a post-election bounce last Wednesday, the markets fell off on Thursday and Friday as investors worried about the ramifications of the Democratic Party’s decisive midterm victory on AI company stocks and data center construction.
But on Monday, a drop in the price of Brent crude oil to $92.57 helped the Nasdaq jump 2.7%, the S&P 500 rise 2.3% and the Dow Jones increase 2.2%.
The price of Brent crude has fallen 5.8% from the $112 per barrel price at the start of November as political pressure grows to end the U.S. war with Iran.
