AI stocks at center of stormy day on Wall Street, erasing sharp 1.3% drop

An early swoon shook the U.S. stock market on Friday, as Nvidia , bitcoin, gold and other high flyers swung on what’s become an increasingly antsy Wall Street, but it quickly calmed.

After starting the day with a sharp drop of 1.3%, the S&P 500 erased all of it and was up by 0.4%, with an hour remaining in trading. The Nasdaq composite also flipped to a gain of 0.6%, while the Dow Jones Industrial Average trimmed its loss to 163 points, or 0.3%, after earlier being down nearly 600 points.

AI stocks were again at the center of the action, a day after dragging Wall Street to one of its worst drops since its springtime sell-off. Nvidia , which has become the poster child of the frenzy around artificial-intelligence technology, began the day with a loss of 3.4%. It then