The key facts

  • Dow Jones rose 0.49% to 52,486.49, the S&P 500 gained 1.31%, and the Nasdaq added 1.6%
  • Nvidia shares climbed about 3%, lifting other chipmakers
  • The volatility index VIX fell 9.66% to 17.58

Wall Street Rally

US stock indices closed Wednesday higher as investor concerns about excessive artificial intelligence spending began to ease. The Dow Jones Industrial Average added 254.60 points (0.49%) to finish at 52,486.49. The S&P 500 rose 1.31%, or 98.45 points, to 7,619.38, while the Nasdaq Composite gained 1.6%, or 400.31 points, to 25,466.19. The VIX volatility index, often called the market's 'fear index,' fell 9.66% to 17.58.

Nvidia Regains Ground

Nvidia shares, which had been under pressure following reports that CEO Jensen Huang had become a target of foreign intelligence activity, rose about 3% on Wednesday. The recovery in the company's stock also lifted other semiconductor makers: Marvell Technology shares climbed 9.3%, Micron Technology rose 11.9%, Broadcom gained 4%, and AMD added 7.3%.

Europe Also in the Green

European stock markets closed higher across the board. The pan-European Stoxx Europe 600 index added 0.72% to 663.05 points. Britain's FTSE 100 rose 0.78% to 10,835.47, Germany's DAX 40 gained 1.2% to 26,662.77, and France's CAC 40 climbed 0.66% to 8,332.87. Italy's FTSE MIB increased 0.37% to 51,946.54, while Spain's IBEX 35 rose 0.46% to 20,027.90.