US Stock Market Fails To Recover as $700 Billion Comeback Collapses

On Monday, Wall Street’s attempted recovery from October’s $2 trillion technology-stock selloff collapsed within hours, with about $700 billion in gains evaporating. The S&P 500 rose as much as 1.1% in morning trading before closing down 0.5%, while the Nasdaq Composite fell 1.1%. Early optimism had come from oil falling to $104 on hopes that possible U.S.-Iran peace talks would lower energy costs and inflation, but investors returned to concerns about Big Tech’s heavy AI spending without sufficient returns. Oracle fell nearly 9% after announcing a $20 billion stock and bond sale to fund AI expansion, and Marvell lost almost 13%; CNBC host Jim Cramer had cited Marvell’s $115 billion acquisition of Lumentum.