Wall Street closed sharply higher on Monday, led by gains in Broadcom and other chipmakers, as investors were reassured by U.S. President Donald Trump’s conciliatory tone on renewed U.S.-China trade tensions.
U.S. Treasury Secretary Scott Bessent told Fox Business Network that Trump is on track to meet his Chinese counterpart in South Korea as the two sides work to de-escalate trade frictions.
Technology stocks, particularly those linked to artificial intelligence (AI), were among the biggest drivers of Monday’s rebound. Broadcom surged after announcing a partnership with OpenAI to produce the startup’s first in-house AI processors.
Wall Street had tumbled on Friday, with the S&P 500 and Nasdaq posting their steepest weekly declines in months. The sell-off followed China’s announcement that it would dramatically expand controls on rare earth exports, prompting Trump to threaten a 100% tariff on Chinese imports and impose export controls on critical U.S.-made software.
Over the weekend, however, Trump said “it will all be fine” and emphasised that the U.S. did not wish to harm China. China blamed the U.S. for the escalation but did not introduce further countermeasures.
Other AI-focused chipmakers also posted gains, with Nvidia and Micron Technology climbing, while the PHLX chip index rose sharply.
The S&P 500 gained 102.21 points, or 1.56%, to close at 6,654.72, the Nasdaq Composite added 490.18 points, or 2.21%, to end at 22,694.61, and the Dow Jones Industrial Average rose 587.98 points, or 1.29%, to finish at 46,067.58.
Here's your AnewZ Daily Brief for the 9th of November 2026. From a spy investigation shaking Silicon Valley to rising geopolitical tensions, th...
A passport application might seem an ordinary administrative request. For Sheikh Hasina, Bangladesh's ousted prime minister, it could mark the ...
Nvidia has launched an independent investigation into whether its chief executive, Jensen Huang, was targeted in a foreign intelligence operat...
Poland has declared two days of national mourning after a gunman opened fire in Kraków's historic main square. Investigators are examining possible far-right influences and the discovery of three bodies at the suspect's home.
Monday marks the second of two days of national mourning in Poland as police bolstered security after six people were killed in a mass shooting in Kraków.
The Saudi-led coalition fighting Yemen's Houthis said it intercepted and destroyed two ballistic missiles fired by the Iran-aligned group towards Riyadh on Sunday (8 November), after loud booms were heard in the Saudi capital. The Aramco building was damaged by falling debris.
New Zealand’s ruling centre-right National Party has taken a narrow lead over the opposition Labour Party in Saturday’s general election, with the country’s current three-party coalition projected to retain power.
Azerbaijan is marking the sixth anniversary of Victory Day on Sunday, 8 November, with President Ilham Aliyev visiting the Victory Monument in Khankendi, laying a wreath and paying tribute to servicemen killed during the 44-day Second Garabagh War in 2020.
Nvidia has launched an independent investigation into whether its chief executive, Jensen Huang, was targeted in a foreign intelligence operation, following allegations that a businesswoman with whom he had a relationship passed information to Beijing.
Australian design platform Canva has announced a major restructuring affecting 22 per cent of its workforce, with 1,271 employees facing job cuts, relocations or changes to their roles as the company grapples with slowing growth and rising AI costs.
British Petroleum (bp) spent nearly $1.5 billion with suppliers and contractors across Azerbaijan, Georgia and Türkiye in the first nine months of 2026, highlighting the economic reach of major energy projects beyond oil and gas production.
Seven OPEC+ countries agreed on Sunday, 1 November, to keep oil production targets unchanged for December, extending an earlier freeze. But with the Iran war disrupting supplies and prices fluctuating, what is really driving the global oil market?
Cryptocurrencies are volatile, and their crashes make headlines. But does a slump in digital coins ever spill over into the pounds, dollars and euros in people's bank accounts? The short answer is not directly, but indirectly it can, and regulators are increasingly worried about how.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment