CNBC Daily Open: AI trade frenzy seems driven by a 'virtuous' cycle

Sebastian Ujică

Taken from CNBC’s Daily Open, our international markets newsletter — Subscribe today Traders who shorted the S&P 500 — essentially, betting that it would go down — last month were in for a rude surprise. The broad-based index ended the month 2.3% higher, defying " Octoberphobia ," a term that arose because of the market crashes in 1929 and 1987 that happened during the month. The Nasdaq Composite had an even better month than the S&P 500. The tech-heavy index climbed 4.7%, giving a hint of what

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