NEW YORK, United States — Technology stocks saw a significant recovery on Tuesday, February 24, 2026, bouncing back from a previous selloff as investors weighed the long-term impact of artificial intelligence (AI) and navigated ongoing trade and tariff uncertainties.
The tech-heavy Nasdaq Composite led the rebound on Wall Street with a 1.0 percent gain, while the Dow Jones Industrial Average and S&P 500 also finished higher.
Key Drivers of the Recovery:
- AMD and Meta Deal: Semiconductor giant AMD saw its shares jump 8.8 percent following news of a major chip deal with Meta. Meta is reportedly set to purchase millions of chips from AMD and may potentially become a shareholder in the processor manufacturer.
- Anthropic Reassurance: Sentiment improved after a presentation by AI firm Anthropic, which emphasized that its technology is designed to be compatible with existing software ecosystems rather than completely replacing them. Analysts from Wedbush Securities noted that AI is more likely to drive a “modernization cycle” than bypass current technology bases.
- Tariff Clarity: Markets continue to assimilate the effects of the US Supreme Court’s decision to strike down several of President Donald Trump’s earlier tariffs. While Trump has introduced new 10 percent levies (with a vow to raise them to 15 percent), investors are looking for stability in trade policies.
Other Market Moving News:
- Novo Nordisk: Shares of the Danish drugmaker fell 3.1 percent after announcing significant price cuts for its anti-obesity drugs in the US—50 percent off Wegovy and 35 percent off Ozempic—as competition in the sector intensifies.
- Asian Markets: Performance was mixed, with the Hang Seng Index in Hong Kong dropping 1.8 percent, while the Nikkei 225 in Tokyo gained 0.9 percent.
Key Closing Figures (approx. 2115 GMT):
- Dow: 49,174.50 (UP 0.8%)
- S&P 500: 6,890.07 (UP 0.8%)
- Nasdaq: 22,863.68 (UP 1.0%)
- Brent Crude: $70.77 per barrel (DOWN 1.0%)