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Advanced Micro Devices (NASDAQ: AMD) shares rose 0.3% to $XX (exact share price not provided) as of 2:45 p.m. ET on [insert date]. This marks a recovery after being down as much as 5.2% earlier in the trading session. The broader S&P 500 and Nasdaq Composite indices were up 0.2% and 0.5%, respectively, indicating a market rebound.
The initial sell-off affecting AI stocks was driven by investor concerns over the Federal Reserve’s interest rate policies, with a survey showing that less than 50% of traders anticipate a rate cut in December, down from 95% in October. Additionally, geopolitical tensions surrounding Taiwan have raised concerns for AMD, which relies on Taiwan Semiconductor Manufacturing for chip production, after threats were made regarding potential military actions involving Japan and China.
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