What a difference a few months can make: In 2022, Wall Street closed the books on its worst year in more than a decade. In fact, the major market indexes posted their worst performance since the bear market of 2008. 

Now, just months later, things appear to have turned a corner. All three major market indexes have climbed more than 20% since their recent troughs, with some market watchers calling it the beginning of a new bull market.

What caused this abrupt turnaround? In a nutshell: recent developments in artificial intelligence (AI). The emergence of ChatGPT late last year highlighted the potential wide-ranging applications for generative AI, which acted as a catalyst for the current market exuberance.

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Source Fool.com