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Plus, bonds rally and General Mills considers a divestiture
The Philadelphia semiconductor index was down 9.2% as investors weighed what a Democratic Congress means for data center spending
Big tech stocks slumped on Thursday in their biggest decline since the “Liberation Day” rout last year, extending what has been a punishing autumn for the AI trade. The Nasdaq 100 index was set for market value declines exceeding US$2 trillion on investor fears that the Democratic Party’s sweeping midterm victory could stall AI…
Shares in Elon Musk’s SpaceX have plunged as tech and artificial intelligence stocks more broadly plummeted a day after the Democrats swept to victory in the midterms. Those losses dragged the tech-heavy Nasdaq Composite stock index down, which had fallen by more than 5% at one point in early trading.
AI-funded super PACs saw mixed effectiveness in Tuesday’s midterm elections.
