The US stock market just had one of its toughest days in years. The Nasdaq 100 has fallen almost 14% from its October record, and yesterday’s -6.4% was its worst day since March 2020. The S&P 500 dropped 4.4%, with its companies losing around $3 trillion in combined value.
📣 Why such a sharp drop?
After the midterm elections, Democrats won control of both chambers of Congress. Investors fear this could lead to tougher AI regulation and slow down data center construction, which has driven the market all year.
🍑 Chipmakers were hit hardest
SanDisk fell more than 22%, AMD 17%, Micron 15%, Broadcom 10% and Nvidia 9%. Qualcomm lost 9.5% as a weak sales forecast added to the pressure.
The sell-off has reached Asia: South Korea’s KOSPI index, where Samsung and SK Hynix carry most of the weight, fell about 9%, and trading was temporarily halted.
🪙 Crypto followed
BTC dropped as low as $75,400 (about -6% in 24 hours), and ETH fell more than 7%. Around $1 billion in positions were liquidated over the past day.
Volatility happens, and days like this come and go. Rely on verified information and avoid making emotional decisions.
Community | X | Support