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U.S. stocks plunged Thursday, erasing most of their gains following the midterm elections, as investor concerns grew over a slowdown in data-center expansion and AI-related spending. The Nasdaq fell 4.7% and the S&P 500 dropped 3.7%, while the Dow Jones shed 1,531 points, or 2.9%. The Nasdaq and Russell 2000 entered correction territory. Technology and semiconductor stocks led the decline, with Nvidia and Broadcom each falling 8%, amid concerns that the election results and opposition to building new data centers could slow the sector’s expansion.
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