Wall Street recovered some ground on Monday as technology and semiconductor stocks linked to the artificial intelligence (AI) boom bounced back from Friday's sharp sell-off while oil prices eased from overnight peaks despite continued tensions between Israel and Iran, according to a report in Business Today.
The S&P 500 rose 0.7% after suffering its worst daily decline since October on Friday. The Dow Jones Industrial Average gained 207 points, or 0.4%, while the Nasdaq Composite climbed 1.1% in early trade. All figures are from the AP report cited by Business Today.
AI-Linked Stocks Lead Rebound
AI-linked stocks led the rebound after coming under heavy pressure at the end of last week amid concerns that valuations had risen too rapidly.
Micron Technology jumped 8.3% after tumbling 13.3% on Friday, when it was the worst-performing stock in the S&P 500. The stock has still more than tripled so far in 2026.
Marvell Technology advanced 8.8% after S&P Dow Jones Indices announced that the chipmaker would join the benchmark S&P 500 index. The stock has also more than tripled this year, aided by a 32.5% surge last week after Nvidia CEO Jensen Huang suggested that Marvell could become "the next trillion-dollar company."
The recovery comes after a sharp correction in AI-related stocks that had driven much of Wall Street's rally this year. A widely tracked semiconductor index had surged nearly 85% in 2026 through last Thursday.
Market participants are now debating whether Friday's decline marked the start of a broader correction or merely a pause in the AI-led rally.
| Index / Stock | Performance on June 8, 2026 | Previous Day's Change |
|---|---|---|
| S&P 500 | +0.7% | Worst daily decline since October |
| Dow Jones | +207 pts (+0.4%) | n/a |
| Nasdaq Composite | +1.1% | n/a |
| Micron Technology | +8.3% | -13.3% on Friday |
| Marvell Technology | +8.8% | n/a |
Oil Prices Ease but Remain Elevated
In commodity markets, oil prices remained elevated but retreated from overnight highs after Iran's military signalled a halt to offensive operations.
Brent crude, the global benchmark, briefly climbed above $98 a barrel overnight before easing to $94.25, still up 1.2% on the day.
The recent rise in oil prices, triggered by the conflict between Israel and Iran, has added to inflation concerns and pushed global bond yields higher, raising fears of slower economic growth.
Treasury yields eased slightly on Monday, helping support equities. The yield on the benchmark 10-year US Treasury note fell to 4.51% from 4.55% at Friday's close.
Asian Markets Under Pressure
Stock markets across Asia remained under pressure.
Japan's Nikkei 225 declined 3.8% after the government revised first-quarter annualised economic growth lower to 1.8% from an earlier estimate of 2.1%.
China's Shanghai Composite fell 1.7%, while Hong Kong's Hang Seng Index lost 1.2%.
European markets also traded lower, extending the cautious mood seen across global equities.
Market Outlook
Michael Wilson, strategist at Morgan Stanley, remained optimistic about the broader market outlook.
"Markets rarely move in a straight line at the pace seen since the March lows," Wilson wrote in a note, as cited by AP. "In our view, a correction was inevitable and ultimately healthy if this bull market is going to extend into year-end," he added, maintaining a target of 8,000 for the S&P 500.
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