Global technology stocks and major indices declined sharply after the Nasdaq recorded its largest single-day loss in 18 months following US midterm election results.
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Global technology stocks and major indices declined sharply after the Nasdaq recorded its largest single-day loss in 18 months following US midterm election results.
Wall Street faced a dramatic selloff with technology stocks plummeting due to growing concerns about artificial intelligence spending. Investors reevaluated popular AI-related trades after midterm election results suggested potential tougher scrutiny in the industry. Asian stocks slumped after a post-election rout in chipmakers deepened on Wall Street amid growing concern that Democrats will seek tighter regulation of the artificial intelligence industry.
Times of India reported the story as "Wall Street bloodbath: $2.5 trillion wiped out as Nasdaq suffers worst crash in 18 months."
2 sources have covered this story, including Times of India and Bloomberg. The earliest reporting in the cluster landed about 16 hours ago.
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[01] VerifiedCore event reported by 2 independent outlets across the spectrum.
[02] DisputedKey facts present in mainstream desks; corroboration thin from wires.