Wall Street suffered a massive selloff after the US midterm elections, with the Nasdaq 100 posting its worst drop since March 2020 and $3.7 trillion in market value wiped out in a day. Retail investors led the selling, followed by hedge funds and quantitative firms, as institutional buyers stepped back. The decline was fueled by Democrats' skepticism of the AI data-center expansion.
Wall Street Selloff Erases $3.7 Trillion as Nasdaq 100 Plunges
Source: Moneycontrol