Major stock markets experienced a significant downturn on Thursday, with the tech sector, particularly chipmakers, bearing the brunt of the sell-off. The Nasdaq Composite fell 5.2%, the S&P 500 dropped 4%, and the Dow Jones Industrial Average lost approximately 3.4%, reversing gains seen in the post-election rally.
This broad market decline followed a substantial drop in Intel's stock earlier in the week, which shed 21% after the company issued weak guidance, citing a slowdown in the personal computer market. The rout has since spread across the semiconductor industry, impacting companies like Nvidia and Micron, with some analysts pointing to potential regulatory concerns around artificial intelligence and data center risks as contributing factors to the broader tech sell-off.
Chip Stocks Plunge as Tech Sell-Off Erases Election Gains
6 stories · 4 sources
Sources
- Stocks Tank Amid Tech Sell-Off, Reversing Post-Election Rally — Deadline,
- Nvidia, Micron, and other AI stocks take a dive after elections — Reddit - Technology,
- Micron Hits 3-Month Low Amid Chip Rout After Top Democratic Lawmaker Calls For AI Regulation, Pause In Development — Reddit - Artificial Intelligence,
- AI stocks slide as Texas governor result raises data center risks — Hacker News - Official RSS,
- AI stocks slide as Texas governor result raises data center risks — Reddit - Technology,
- Intel stock collapse worsens as $3.5T chip rout spreads — Hacker News - Official RSS,