The Nasdaq slid into a correction on Thursday, more than 10% below last month's record, as investors dumped chip and AI stocks, CNBC reports. At 17:52 UTC the index stood 4.6% lower on the day after falling as much as 5%, according to Yahoo Finance. Bitcoin went with it and lost more than $5,000 from its high.
What began as a tech sell-off became a crypto story within an hour. Our full piece on the Bitcoin crash covers the price levels, hedging and what you can do now. This one looks at Wall Street.
Why Is the Nasdaq Crashing? AI Fears After the Midterms
Investors fear that the Democratic sweep of both chambers, along with wins in key governors' races, could slow the AI and data center buildout, CNBC writes. UBS analysts estimated that around 30% of US data center capacity additions expected in 2028 c...
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