WALL STREET SELLOFF : AI STOCKS TUMBLE , NASDAQ 100 PLUNGES OVER 6 %

What happened: A Wall Street selloff hit AI-linked stocks, with the Nasdaq 100 falling over 6% as investors reacted to the prospect that Democrats' Congressional election victory could slow the AI buildout. Key numbers: Nasdaq 100 down over 6%, worst since March 2020, erasing $2.3 trillion and nearly 15% below its Oct. 6 record. Nvidia fell over 9%. S&P 500 lost 4.4%. Why it matters: The rout reversed the prior day's rally, and strategists said earnings forecasts for AI-related companies may no longer be valid if policy changes alter the data center buildout. Coverage: 3 outlets in 24h

A Wall Street selloff hit AI-linked stocks, with the Nasdaq 100 falling over 6% as investors reacted to the prospect that Democrats' Congressional election victory could slow the AI buildout.

The rout reversed the prior day's rally, and strategists said earnings forecasts for AI-related companies may no longer be valid if policy changes alter the data center buildout.