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Wall Street recorded its worst one-day drop since April 2025 as a sell-off in AI and technology stocks intensified amid concerns that Democrats’ victory in the midterm elections could lead to tighter regulation of the sector and data centers. The Nasdaq fell 5.5% to 24,315 points, while the S&P 500 dropped 4.3% and the Dow Jones 3.4%. Losses spread to chip stocks: Nvidia fell 8.9%, and the Philadelphia Semiconductor Index lost more than 12%.
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