2 sourcesUpdated
Tech stocks plunge after US midterms
US and Asian tech stocks suffered significant losses following the US midterm elections. Shares in major tech firms and AI sectors saw sharp declines, with the Nasdaq Composite losing over $2.5tn. Concerns about AI development and spending contributed to market fears.
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Summary
Nvidia shares slid more than 9%, knocking more than $400bn off the firm's market value. Other chipmakers also suffered, with AMD and Micron both dropping by more than 17%. X and Tesla also plunged, falling 8% and nearly 11% respectively and shaving more than $300bn off the firms' market value on Thursday.