20 Hrs
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CNN Arabic
Source: CNN Arabic
20 HrsCNN Arabic
Source: CNN Arabic
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Global markets retreated after a Wall Street rout wiped nearly $2.5 trillion off market value, amid fears that Democratic gains in the midterm elections could slow AI development—particularly after Democrats won the Texas gubernatorial election. Governor-elect Gina Hinojosa pledged a temporary ban on data centers and the repeal of some tax incentives for them. The Nasdaq fell 5.52% on Thursday, while South Korea’s Kospi dropped nearly 9% at Friday’s open. Nvidia shares fell 9.3%, and the semiconductor index slid 12.3%. Since its peak on October 6, the Nasdaq has lost about 12% and the S&P 500 about 6%, as investors remain concerned about the effects of potential restrictions and companies expanding data centers beyond actual demand.
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