Wall Street rebounds as tech stocks recover

Wall Street stocks recovered following a steep AI-related selloff driven by political uncertainty. Major technology shares led the rebound while global markets experienced mixed results.

Xurve View
Insights:
FILE PHOTO: A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in New York City, New York, U.S., July 19, 2021. REUTERS/Andrew Kelly/File Photo

Wall Street equities rebounded on Friday, gaining 0.61% as tech stocks rallied following a heavy selloff driven by political concerns in the United States. The recovery follows a broader market rout triggered by fears that election shifts could bring tighter regulations. Despite the daily bounce, major indices remain on track for weekly losses.