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AI worries drive US tech rout
WeighsSince · updated
Investors fear tougher rules could slow the AI industry after the midterm elections. The Nasdaq fell 5.5% in its worst day in 18 months, with more than $2 trillion erased.
The Nasdaq composite entered a correction. US stocks gave up the rally that followed the midterm elections, and the Dow fell by more than 1,000 points.
The S&P 500 fell 4.36% and the VIX fear gauge jumped 69.66% to 28.18. Elon Musk's net worth fell about $80 billion as Tesla and SpaceX slid.
Voter pushback against data centers adds pressure on the AI buildout.
The markets it moves
S&P 500closed7,353.73down −4.36%- Nasdaqclosed24,315.00down −5.52%
- Dow Jonesclosed51,523.06down −3.44%
- VIX fear gaugeclosed28.18up +69.66%
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Written by our newsroom’s AI from our stories and the markets’ moves, and not read by a person before it was published. Not investment advice.