The Nasdaq Composite, which is heavily weighted towards technology stocks, had bounced 1.7 percent just over 30 minutes into early Friday trading in New York, after Thursday's 5.5 percent plunge.
We're seeing a small recovery, and it's much needed. If we hadn't, I think we could have been more concerned, says Björsell.
The Dow Jones Industrial Average was down 0.3 percent at the same time, while the broader S&P 500 was up 0.9 percent.
"Panic selling"
AI giant Nvidia, whose shares plunged 9 percent on Thursday, traded up 6.3 percent. Competitor Advanced Micro Devices was up 12.3 percent, after plunging 17.3 percent the previous day.
Yesterday's movement seemed to be accelerating, and in that way it became a bit more like panic selling. That's why we had hoped for a small rebound today, says Björsell.
Thursday's stock market crash in the US, the worst since April 2025, is linked to concerns about a setback for the AI sector after the Democratic Party's success in the midterm elections earlier this week.
The decline was primarily driven by concerns about AI and data centre investments, then it had a much broader effect yesterday.
Nervous market
Björsell believes the stock markets will be volatile next week as well.
I think you should be prepared for the market to be even more nervous, and I think the main focus should be on AI and how to view future investments.
But it's not just AI that drives the market.
We talk a lot about AI, but there are other things the market must keep an eye on as well, such as the situation in the Middle East and inflation, he says.
On Friday, unexpectedly strong jobs figures for October were released, further increasing the likelihood of a hike in the US policy rate in December.
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