Wall St jumps as oil slide cools inflation worries; Nvidia slumps

US stocks rallied on Monday, as a drop in oil prices tempered inflation fears and helped the S&P 500 rebound from its biggest weekly drop since April 2025, and tech shares jumped even as AI heavyweight Nvidia slumped with controversy swirling around CEO Jensen Huang.



Last week, stocks slumped after a sweeping victory by Democrats in the US midterm elections fed concerns that new regulations could dent the durability of the AI trade.



Nine of the 11 major S&P 500 sector indexes saw gains of more than 1 per cent on Monday.



Industrials and consumer discretionary were the top performers, rising about 4 per cent each.



Markets were in rally mode even as Nvidia, the second most valuable company in the world, tumbled and hit its lowest intraday level since Mar 31.



Investors questioned CEO Huang's future at the AI chipmaker after an internal investigation into whether a foreign intelligence effort had targeted him.