The S&P 500 posted its biggest comeback since September as Wall Street shrugged off some weakness in stocks linked to the artificial intelligence trade.
The market benchmark rose 0.2% after falling 0.9% earlier in the day. This is its biggest reversal from an intraday low into positive territory since September 11, when it was down 1.6% but closed up more than 1%.
The Dow Jones was up for much of the day. It closed up 359 points, or 0.9%. The Nasdaq Composite fell 0.4%. The tech-heavy index was dragged down by struggles among chip stocks after the Biden administration’s moves to cap exports of AI chips to some countries.