U.S. stock indexes surged on Monday, recovering significant ground after a brutal, AI-driven sell-off the previous week.
The Dow Jones Industrial Average climbed 1,113 points, or 2.2%, while the S&P 500 rose 2.3% and the Nasdaq Composite added 2.5%, according to market data from November 9, 2026. The broad-market advance pulled the Dow back above its closing level from Election Day, though the S&P 500 and the tech-heavy Nasdaq remained slightly below that benchmark.
Investors caught a break from falling energy expenses. International benchmark Brent crude slid 4.3% to $94.11 a barrel, dropping from more than $112 at the start of the month amid diminishing uncertainty over the conflict involving Iran.
U.S. West Texas Intermediate futures also dropped 3% to roughly $87 per barrel.
European markets rose alongside the U.S. rally, driven by gains in bank stocks after Credit Agricole proposed combining its Italian unit with Banco BPM to establish Italy's third-largest bank. In foreign exchange trading, the U.S. dollar softened, with the dollar index decreasing 0.4% to 101.81.
The chipmaker’s shares fell following the disclosure that its board of directors opened an inquiry into co-founder and CEO Jensen Huang.
The board launched the investigation after Huang acknowledged an intimate relationship with a business executive whom U.S. intelligence determined was gathering information for China. Nvidia stated that its committee will examine all available information.
the board has no reason to believe that either national security or Nvidia secrets were compromised
Nvidia board of directors, via The Press Democrat
Guo Jiakun, a spokesperson for China’s Foreign Ministry, dismissed the claims as nothing but smears against China
.
Other cornerstones of the artificial intelligence trade recovered strongly from the previous week’s volatility. Advanced Micro Devices jumped 11.7%, recouping a portion of its 11% loss from last week, while CoreWeave advanced 5.6% after sliding 15.4%.
Among the Magnificent Seven
, Amazon added 3%, Tesla climbed 5%, Alphabet gained 2%, and Microsoft rose 2%, according to market reports. The broader semiconductor sector also caught a bid, as Broadcom popped 8% and the iShares Semiconductor ETF rose over 6% following a 13% drop the prior week.
Market strategists viewed the recent artificial intelligence sell-off as excessive while acknowledging underlying political headwinds. Jay Hatfield, CEO at Infrastructure Capital Advisors, noted that the tech turmoil was partially correct given the policy overhang from Democrats regarding data center construction and energy costs, CNBC reported.
Earlier coverage: Dow Surges Over 1,500 Points as Democrats Win Control of Congress
