US tech stocks suffered a sharp sell-off, wiping over $3.2tn from the market, as investors bet on an AI slowdown following the Democrats' midterm victory. The Nasdaq fell 5.5% and the S&P 500 dropped 4.4%, with concerns that a Democrat-controlled Congress could tighten regulation of AI and datacenter construction. Markets rebounded partially but remain volatile.
US Tech Stocks Plunge on AI Bubble Fears After Midterms
Source: theguardian.com