Trading Day: A November 5 market bonfire
On November 5, US stocks experienced a significant decline, primarily driven by a sharp sell-off in technology and AI-related stocks. The Democrats' substantial victories in the midterm elections prompted investors to reassess the potential impact on AI data center construction. Chip stocks witnessed their second-largest fall on record, while interest rates in traders' forecasts pushed back the Federal Reserve's next rate hike to March.
Tech stocks suffered a record decline, and the Nasdaq fell as much as 14% from its all-time high, with the market cap losing $2 trillion on Thursday.
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- Trading Day: A November 5 market bonfire channelnewsasia.com
