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Tech falls after Dem win
Technology stocks fell sharply following the results of the U.S. midterm elections, amid investor fears that Democrats would tighten restrictions on the AI sector, as well as concerns about returns on massive investments and rising borrowing costs. The Nasdaq fell 5.5%, the S&P 500 dropped more than 4%, and the Philadelphia Semiconductor Index lost about 16% over the week. Losses spread to Asian markets, with the Seoul and Tokyo indices each falling 6%.
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