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US Nasdaq and global markets rise on chip rally despite Middle East tensions
The Nasdaq Composite closed 1.3% higher at 26,206 points, driven by a broad rebound in semiconductor and AI‑related stocks. Micron Technology jumped 4.5% after announcing more than $250 billion of U.S. investment through 2035, while Sandisk rose 7.6% and the Philadelphia Semiconductor Index gained about 3%.
South Korean chipmaker SK Hynix priced its U.S. ADRs at $149, raising roughly $26.5 billion in what analysts said was the second‑largest U.S. listing after SpaceX. The offering is expected to fund new AI chip factories.
European exchanges also posted gains, with Germany’s DAX, France’s CAC 40 and Italy’s FTSE MIB all up 0.8‑1.1% on strong semiconductor performance. Asian markets followed suit; Japan’s Nikkei rose 1.8% and South Korea’s KOSPI gained 2.4%.
Oil prices slipped about 2% after U.S. and Iranian attacks in the Gulf eased, reducing inflation concerns and allowing investors to focus on the AI‑driven equity rally despite ongoing geopolitical risk.