Nasdaq stages biggest intraday comeback since April; CoreWeave rebounds 6%

The tech-heavy Nasdaq Composite inched up 0.08% by the close on Thursday, erasing an intraday decline of 1.4%. That marked its biggest turnaround from an intraday low to positive territory since April 7, Barron's reported, citing Dow Jones Market Data.

The broad-market S&P 500, which had fallen 0.6% during the session, finished up 0.33%, its biggest intraday comeback since July 2. The index thus snapped a three-day losing streak. The blue-chip Dow Jones Industrial Average advanced 1.08%, while the smid-cap Russell 2000 led the gains, adding 1.38%.

Early in the session, chipmakers and AI stocks extended the declines of recent days. Cloud-computing provider CoreWeave’s debt became the latest source of concern for investors in the AI sector. Credit-default swaps priced in a 60% probability of the company defaulting within the next five years, while a measure of its credit risk hit a record.

Nvidia CEO Jensen Huang brought relief to the market when he said CoreWeave’s financial position was growing stronger, Barron's notes. Nvidia supplies computing systems to CoreWeave and has invested in the company. Huang said he saw no need for Nvidia to provide a financial backstop. CoreWeave rose 5.9% on the day on Thursday after plunging as much as 9.5% during the session.

The rest of the market rallied, led by health care, materials, and financials, Barron's writes. The 10-year Treasury yield posted its biggest one-day decline since August 1, 2025, MarketWatch reported. Stocks sensitive to Treasury yields rallied in response, which drove the Russell 2000 higher, Barron's added. Meanwhile, a 1.4% gain in the equal-weight version of the S&P 500 reflected investors’ rotation out of tech and into other sectors, Bloomberg noted.