INVESTORS WIPE $2.5 TRILLION OFF NASDAQ AS BLUE TSUNAMI PROMPTS AI FEARS

What happened: The Nasdaq Composite fell 5.5% after Democrats won big in the US midterm elections, with investors fearing more AI scrutiny, particularly on data center construction. Key numbers: Nasdaq Composite down 5.5%, nearly 12% below its October 6 record close. Nasdaq 100 fell 6.4%, erasing $2.5 trillion in market value. Philadelphia SE Semiconductor index fell 12%. Why it matters: Analysts said the scale of the declines suggests further selling is at hand, and markets may not have fully priced in local opposition and permitting hurdles for data center buildouts. Coverage: 4 outlets in 24h

The Nasdaq Composite fell 5.5% after Democrats won big in the US midterm elections, with investors fearing more AI scrutiny, particularly on data center construction.

Analysts said the scale of the declines suggests further selling is at hand, and markets may not have fully priced in local opposition and permitting hurdles for data center buildouts.