By Lewis Krauskopf
January 29, 2025 – 3:21 AM PST
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NEW YORK (Reuters) – A development in the field of artificial intelligence that staggered asset prices could help set the stage for broader stock strength beyond the narrow group of technology shares that has propelled the market higher.
Tech stocks, led by megacap companies, have been the driving force of the current bull market. The S&P 500 tech sector (.SPLRCT) has gained some 90% in the past two years, nearly doubling the gain for the overall benchmark index.
But the sector stumbled badly on Monday as investors factored in implications from the low-cost Chinese AI model, with shares of high-profile tech names such as Nvidia (NVDA.O), Broadcom (AVGO.O) and Oracle getting pummeled.
Even as the group recouped some of those losses on Tuesday,…
