Nasdaq heading for worst day in 18 months as Wall Street sustains widespread losses
Summary
U.S. stocks fell sharply on Thursday, with the Nasdaq down as much as 5% and more than 10% below its recent record high. Investors worried that election results could bring tighter scrutiny of artificial intelligence projects and data-center construction, while losses spread to other markets.Key Facts
- The Nasdaq Composite entered correction territory, defined in the article as more than 10% below its recent record high.
- The index was on track for its largest one-day drop since President Donald Trump announced tariffs in April 2025.
- SanDisk shares fell 19%, and Western Digital shares fell 16.5%.
- The VIX, a measure of expected stock-market volatility, rose 40% to its highest level since the early weeks of the Iran war.
- The Dow Jones Industrial Average fell more than 1,000 points, or 2%, in late-morning trading.
- Nvidia shares fell 6.7%, while Goldman Sachs shares declined 5.7%.
- The FTSE 100 closed down 46 points, or 0.4%, at 10,782.66.
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