WALL STREET HAS AI - INDUCED BLOODBATH AS EXCHANGE HAS WORST DAY OF YEAR

What happened: Wall Street had its worst day of the year as AI slowdown fears sent tech stocks plunging, erasing the prior day's post-election gains. Losses spread to banks, manufacturers and smaller businesses. Key numbers: S&P 500 fell 4.4% to 7,353.73. Dow dropped 1,833 points, or 3.4%. Nasdaq sank 5.5%, entering correction territory. Why it matters: Democrats' midterm victories raised concerns about new restrictions on data-center construction, a major driver of AI-related investment. Investors question whether the massive spending fueling the AI boom can continue.

Wall Street had its worst day of the year as AI slowdown fears sent tech stocks plunging, erasing the prior day's post-election gains. Losses spread to banks, manufacturers and smaller businesses.

Democrats' midterm victories raised concerns about new restrictions on data-center construction, a major driver of AI-related investment. Investors question whether the massive spending fueling the AI boom can continue.