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Wall Street’s Nasdaq hits all-time high as AI frenzy gathers pace
Al Jazeera • • general
Key Points:
- The Nasdaq Composite index reached an all-time high, rising 0.45% on Tuesday and boosting its year-to-date gains to over 17%, despite concerns about AI safety, high tech valuations, and geopolitical tensions from the US-Iran conflict.
- The Nasdaq 100 index increased by 0.82%, led by strong performances from Monolithic Power Systems (+8.1%), Shopify (+7.1%), and Micron Technology (+5%), while tech giants Nvidia and Apple saw modest gains.
- Meta Platforms declined 0.63% following a significant 11.4% surge the previous day driven by enthusiasm for its new AI assistant, Muse, which analysts view as a promising consumer AI product.
- Major Asian markets opened mixed, with Japan’s Nikkei 225 and South Korea’s Kospi rising, while Hong Kong’s Hang Seng Index fell over 0.7%, amid largely stable oil prices around $99 per barrel.
- US-Iran diplomatic talks on the sidelines of the UN General Assembly showed signs of progress, with President Trump describing the meeting as "very good" and indicating further discussions soon, which helped shift investor focus back to AI profit potential.
