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● LIVE Updated 24m ago · 16 sources tracked

Stock Market Today: Nasdaq Sinks 5% as Investors Ditch Chip, Data-Center Stocks

The Nasdaq Composite fell 5.1% Thursday, closing in correction territory more than 10% below its recent peak, while the Dow Jones Industrial Average and S&P 500 erased their post-election gains. Chipmakers and data-center infrastructure names drove the decline as investors reassessed the durability of the AI spending boom after Democrats' midterm sweep raised expectations of tighter regulation and power constraints for large-scale data centers.

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  • ✓ The Nasdaq Composite dropped 5.1% on Thursday, closing in correction territory more than 10% below its recent high.
  • ✓ The Dow Jones Industrial Average and S&P 500 erased all gains made since the midterm elections.
  • ✓ Semiconductor and data-center infrastructure stocks led the decline as investors reassessed AI spending outlook.
  • ✓ Democrats' midterm sweep raised expectations of tighter regulation and power constraints for large data centers.
🛡️ Source Corroboration: 16 independent reporting domains (90% confidence) ⏱ Read time: ~2 min

What changed

Nasdaq entered correction territory Thursday with a 5.1% plunge, wiping out the post-election rally and extending a chip-led rout into a second session.

Live updates

  1. Nasdaq drops 5.1% into correction as chip, data-center stocks lead selloff

    The Nasdaq Composite fell 5.1% Thursday, closing in correction territory more than 10% below its recent peak, while the Dow Jones Industrial Average and S&P 500 erased their post-election gains. Chipmakers and data-center infrastructure names drove the decline as investors reassessed the durability of the AI spending boom after Democrats' midterm sweep raised expectations of tighter regulation and power constraints for large-scale data centers.

    Why it matters

    The selloff marks the steepest single-day drop for tech shares since the early Covid panic, reflecting a sudden shift in sentiment toward the AI infrastructure trade that had powered market leadership for months. Democratic control of Congress increases the likelihood of new energy-permitting rules, antitrust scrutiny, and tax changes that could raise costs and slow the rollout of massive GPU clusters.

    What is confirmed

    • The Nasdaq Composite dropped 5.1% on Thursday, closing in correction territory more than 10% below its recent high.
    • The Dow Jones Industrial Average and S&P 500 erased all gains made since the midterm elections.
    • Semiconductor and data-center infrastructure stocks led the decline as investors reassessed AI spending outlook.
    • Democrats' midterm sweep raised expectations of tighter regulation and power constraints for large data centers.

    Still unconfirmed

    • AI giants are rushing to stem the fallout from the data-center reckoning.

    What to watch next

    • Federal Reserve policy meeting next week for rate guidance
    • Earnings and capital-expenditure forecasts from Nvidia, AMD, and major cloud providers
    • Congressional hearings or bill introductions targeting data-center energy use or AI antitrust
    Sources used for this update (17)
    1. www.cnbc.com — Stock Market News - CNBC
    2. www.investing.com — Investing.com - Stock Market Quotes & Financial News
    3. www.cnn.com — Stock Market Data - US Markets, World Markets, and Stock Quotes
    4. finance.yahoo.com — Yahoo Finance - Stock Market Live, Quotes, Business & Finance...
    5. stockanalysis.com — StockAnalysis.com - Free Online Stock Information for Investors
    6. www.istockphoto.com — Stock Images, Royalty-Free Images, Illustrations, Vectors and...
    7. www.msn.com — MSN Money | Stock Market Quotes, Business, Economic & Financial...
    8. CNBC — Stock futures are little changed after big rally following Democrats' decisive midterm wins
    9. WSJ — Stock Market Today: AI Stocks Under Pressure While Dow Futures Rise
    10. CNN — Nasdaq plunges into correction territory as midterm results raise fresh questions about AI boom | CNN Business
    11. economictimes.indiatimes.com — Stock Market Live Updates: Nasdaq drops 5%, Dow Jones 1,600 pts as AI selloff intensifies
    12. Yahoo Finance — Stock market today: Nasdaq plunges 5% amid chip stock wipeout, Dow and S&P 500 erase post-election rally gains
    confidence 90%
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