Stocks sold off one day after a post-midterm rally. Nvidia shares fell about 9.26% to close at 181.60, and the Philadelphia Semiconductor Index dropped more than 12%, as investors weighed what Democratic midterm wins could mean for AI regulation and data center development.
Nvidia shares sank about 9.26%, closing at 181.60, while the Philadelphia Semiconductor Index plunged more than 12%. The sell-off came one day after stocks rallied following the midterm elections.
Technology and chip stocks were among the hardest hit as investors weighed what Democrats' midterm election victories could mean for AI regulation and data center development. The drop was attributed partly to those Democratic wins, including candidates who pledged to rein in AI data centers, which raised the prospect of increased regulation.
