AI chip stocks drag Wall Street toward worst day since Trump's tariff announcements in 2025
NEW YORK — Another wipeout for stocks tied to the buildout of AI data centers is overwhelming Wall Street on Thursday and more than erasing all its gains from the day before, which was its best in three months. The S&P 500 fell 3.2 percent after opening with a loss that accelerated through the morning. It’s on track for its worst drop since President Donald Trump shook markets worldwide in April…
On Thursday, the stock market experienced its worst day since President Donald Trump's "Liberation Day" tariffs in April 2025, as AI chip stocks dragged Wall Street down. The S&P 500 fell 3.2 percent, marking its worst decline since its best performance in three months the previous day. The Dow Jones Industrial Average dropped 1,146 points, or 2.1 percent, while the Nasdaq composite plummeted 5 percent.
The pressure on stock markets worldwide stemmed from the continued decline of companies benefiting from the AI technology boom, with South Korea's Kospi index falling 5.3 percent. The U.S. midterm elections on Tuesday further compounded the challenges, as the Democrats' victories raised the possibility of a shift in the political landscape.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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