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

What happened: The Nasdaq Composite fell 5.5 per cent, its deepest one-day drop since April 2025, as Democrats won sweeping US midterm elections and investors feared more AI scrutiny, especially on data centre construction. Key numbers: Nasdaq Composite down 5.5 per cent, nearly 12 per cent Why it matters: Analysts said the scale of the declines suggests further selling is at hand, likely starting with Friday's sessions in Asia. Strategists flagged a slowdown in the data centre buildout as the key theme, and some wondered if the wipeout could affect the timing of Anthropic's expected IPO. Coverage: 4 outlets in 24h

The Nasdaq Composite fell 5.5 per cent, its deepest one-day drop since April 2025, as Democrats won sweeping US midterm elections and investors feared more AI scrutiny, especially on data centre construction.

Analysts said the scale of the declines suggests further selling is at hand, likely starting with Friday's sessions in Asia. Strategists flagged a slowdown in the data centre buildout as the key theme, and some wondered if the wipeout could affect the timing of Anthropic's expected IPO.