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Tech Stocks Lead Rout
Wall Street posted its worst daily decline since April 4, 2025, as the sell-off in AI and semiconductor stocks widened amid fears of tighter regulation of the sector and data centers following the Democrats’ victory in the midterm elections. The Nasdaq fell 5.5% to 24,315 points, the S&P 500 dropped 4.3% to 7,358.13, and the Dow Jones declined 3.4% to 51,521.28. Nvidia shares fell 8.9%, while AMD and Intel dropped 17.4% and 10.4%, respectively, as investors questioned technology companies’ earnings forecasts and risk aversion grew.
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