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● LIVE Updated 54m ago · 22 sources tracked

Major tech stocks plunge as US midterms add to fears of AI slowdown

Global stock markets experienced a severe rout as major tech shares plummeted across the United States, Europe, and Asia. The Nasdaq plunged 5 percent into correction territory following the US midterm elections, wiping out recent post-election gains and dragging down the Dow and S&P 500. Major companies including Tesla, Nvidia, and SpaceX suffered steep declines, while the broader Magnificent 7 group lost $1 trillion in market value. The sell-off was triggered by growing Wall Street anxiety surrounding artificial intelligence development and the political outcomes of the midterms.

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  • ✓ The Nasdaq plunged 5 percent into correction territory following the US midterm elections.
  • ✓ The Dow and S&P 500 erased gains from the post-election rally during the market rout.
  • ✓ Elon Musk's Tesla and SpaceX lost over $420 billion in combined market capitalization after the midterms.
  • ✓ The Magnificent 7 group of tech companies lost $1 trillion during Thursday's stock plunge.
🛡️ Source Corroboration: 22 independent reporting domains (95% confidence) ⏱ Read time: ~2 min

What changed

Global stock markets suffered a steep sell-off as the results of the US midterm elections intensified investor concerns over a slowdown in the artificial intelligence sector.

Live updates

  1. Tech Stocks Plunge Globally Amid US Midterms and AI Fears

    Global stock markets experienced a severe rout as major tech shares plummeted across the United States, Europe, and Asia. The Nasdaq plunged 5 percent into correction territory following the US midterm elections, wiping out recent post-election gains and dragging down the Dow and S&P 500. Major companies including Tesla, Nvidia, and SpaceX suffered steep declines, while the broader Magnificent 7 group lost $1 trillion in market value. The sell-off was triggered by growing Wall Street anxiety surrounding artificial intelligence development and the political outcomes of the midterms.

    Why it matters

    The market turbulence follows the Democratic Party's success in the US midterm elections, where data centers and technology infrastructure emerged as key campaign issues. Wall Street investors are increasingly anxious about the future pace of artificial intelligence development, leading to a broad reassessment of high-flying technology valuations. Companies heavily tied to technology and infrastructure sectors saw immediate impacts on their market capitalizations.

    What is confirmed

    • The Nasdaq plunged 5 percent into correction territory following the US midterm elections.
    • The Dow and S&P 500 erased gains from the post-election rally during the market rout.
    • Elon Musk's Tesla and SpaceX lost over $420 billion in combined market capitalization after the midterms.
    • The Magnificent 7 group of tech companies lost $1 trillion during Thursday's stock plunge.
    • Companies including Tesla and Nvidia saw drops in value as data centers became a key issue in the Democrats' midterm success.

    What to watch next

    • Market performance and stabilization across US, European, and Asian indices.
    • Further corporate or political announcements regarding AI development and data center regulations.
    Sources used for this update (25)
    1. finance.yahoo.com — Yahoo Finance - Stock Market Live, Quotes, Business & Finance News
    2. www.bbc.com — BBC Home - Breaking News, World News, US News, Sports, Business...
    3. seekingalpha.com — Patient Capital Management Q3 2026 Commentary
    4. www.theguardian.com — AI godfather Geoffrey Hinton: ‘We’re creating alien beings. I’m willing to be selfish and choose humans’ | Donald Trump
    5. en.sedaily.com — NAVER Map Navigation Comes to AI Glasses From Meta, Google, Samsung - Seoul Economic Daily
    6. www.myjoyonline.com — Fire outbreaks leave a trail of destruction at Bunso, Boso and Nsawam
    7. CNN — Nasdaq plunges into correction territory as midterm results raise fresh questions about AI boom | CNN Business
    8. NBC News — Tech stocks plunge on worries about AI and Democrats’ midterm landslide
    9. BBC — Shares in Musk's SpaceX plunge as tech and AI stocks fall
    10. The New York Times — Opinion | Elon Musk’s Very Bad Night
    11. CNN — Musk bet big on keeping Texas red. What happens to his business empire now?
    12. Yahoo Finance — Stock market today: Nasdaq plunges 5% amid chip stock wipeout, Dow and S&P 500 erase post-election rally gains
    confidence 95%
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