The Nasdaq Composite fell 5.5% on Thursday and the Nasdaq 100 more than 6%, its worst day since March 2020. The S&P 500 lost 4.4% and every stock in the Dow fell. Nvidia dropped more than 9%, and the Philadelphia semiconductor index fell 12%.
Investors fear the Democrats’ win in Congress could bring tighter rules that slow spending on AI and data centres. Korea’s Kospi fell 6%, while India’s Sensex rose 2.17% on Friday.