Wall Street’s S&P 500 and Japan’s Nikkei hit record highs amid AI boom

European Stoxx 600 index also reaches record close as strong Nvidia results fuel optimism about tech stocks

Japan's main stock index, European shares and Wall Street's S&P 500 have hit all-time highs as strong results from the chipmaker Nvidia stoke investor exuberance over an artificial intelligence investment boom.

The Nikkei increased 2.19% to end the day at 39,098.68. On the final trading day of 1989, it had closed at 38,915.87. The 34 years it has taken to regain its footing is a decade longer than it took Wall Street to recoup losses from the 1929 crash and Great Depression.