Stocks crater as investors recoil from tech companies
Summary
U.S. stocks fell sharply Thursday as investors worried that political changes after the midterm elections could slow the construction of data centers used by artificial intelligence services. Technology and AI-related shares led the declines, while Brent crude oil rebounded after a steep drop the previous day.Key Facts
- The Nasdaq Composite fell 5% in early-afternoon trading, a drop of 1,285 points.
- The S&P 500 declined 3.7%, and the Dow Jones Industrial Average fell 2.9%.
- Investors worried that election results could strengthen opposition to data centers and slow their construction.
- Nvidia shares fell 7.5%, while Advanced Micro Devices shares dropped 14.6%.
- CoreWeave, which rents access to AI chips through cloud services, fell 12.1%.
- Brent crude rose 2.6% to $97.11 a barrel, recovering much of its nearly 9% decline the day before.
- Uncertainty remained about the war with Iran and when the global energy industry could return to normal.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
