DOW PLUNGES 1 , 200 POINTS , NASDAQ INTO CORRECTION TERRITORY AFTER MIDTERM RESULTS STOCK RALLY

What happened: The Dow closed down 1,833 points, one day after a midterm election rally sent it up 1,570 points. The Nasdaq fell 5.5% and entered correction territory. Key numbers: Dow down 1,833 points, about 3.4%. S&P 500 down 4.3%. Nasdaq down 5.5%, more than 10% from last month's peak. Nvidia down 9%, AMD down 17%, SanDisk down more than 22%. Why it matters: The selloff hit AI firms as investors weighed risk from newly empowered Democrats, many of whom ran campaigns critical of AI data centers. Analyst Dan Ives said the Democratic wins will slow the AI buildout in the US. Coverage: 10 outlets in 24h

The Dow closed down 1,833 points, one day after a midterm election rally sent it up 1,570 points. The Nasdaq fell 5.5% and entered correction territory.

The selloff hit AI firms as investors weighed risk from newly empowered Democrats, many of whom ran campaigns critical of AI data centers. Analyst Dan Ives said the Democratic wins will slow the AI buildout in the US.