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Japan stocks rebound a day after major rout

Earlier in New York, the technology-heavy Nasdaq index opened 6.3% lower but those losses eased during the day and the index ended the session down 3.4%.

The S&P 500 fell 3% and the Dow Jones Industrial Average was 2.6% down by the end of trading on Monday.

In Europe, the CAC-40 in Paris trimmed earlier losses to end 1.4% lower while Frankfurt’s DAX and the UK’s FTSE 100 lost about 2% each.

It came after weak jobs data in the US on Friday sparked concerns about the world’s largest economy.

There are also concerns that shares in big technology companies, particularly those investing heavily in artificial intelligence (AI), have been overvalued and are now facing difficulties.

Last week, chipmaker Intel announced major layoffs, as well as disappointing financial results.

There is also speculation that rival Nvidia, which has been one of the main beneficiaries of the boom in demand for AI technology, will delay its latest product launch.


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