Crash on the Nasdaq: Warning shot or beginning of the end of the AI boom?
On Thursday, $2.5 trillion in value evaporated on the US stock exchanges. The day after, there was a recovery, but it was too hesitant for a real all-clear.
US stock markets lost $2.5 trillion in value on Thursday, with some relief seen the following day. The losses were driven by concerns that Democrats, who gained ground in the midterm elections, may curb the development of data centers for artificial intelligence. The Nasdaq index suffered a significant decline, but remains up for the year, as do the Swiss SMI index and US S&P 500 index, which has historically risen 15% on average in the 12 months following midterm elections.
The potential slowdown of AI development has raised concerns about the sector's future, with some experts warning of possible further losses and problems at hedge funds.
Written by urgent.news from NZZ Wirtschaft's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
