AI Drives Tech Rally, Outweighing US Debt Concerns: Markets Wrap
- Nvidia leads rally in technology stocks after blowout forecast
- Fitch Ratings warns that the US’s AAA rating is under threat
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US stocks rose Thursday as a rally in companies linked to the frenzy in artificial intelligence outweighed broader market concerns including a US debt default.
The S&P 500 gained 0.9% while the tech-heavy Nasdaq 100 added 2.5% after a bullish sales forecast from Nvidia Corp. ignited gains in the technology sector.