From The Tribune
Center Owned by The Tribune TrustAI sell-off wipes out Wall Street’s post-election rally; major Asian markets also plunge up to 8%
What's behind this
Japan’s Nikkei fell 5.7% and South Korea’s Kospi fell 7.4% amid an AI stock rout, with concerns over expensive AI infrastructure, stretched technology valuations and possible data‑centre delays intensifying selling pressure globally. Asian benchmarks declined after AI worries sent Wall Street tumbling; Tokyo’s Nikkei tumbled more than 6% at the open and later traded 5.7% lower. In the United States, a sharp sell‑off in tech stocks wiped out the post‑election rally, with the Nasdaq entering correction territory and chipmakers such as Nvidia and Qualcomm leading the decline amid earnings pressure and AI infrastructure policy concerns.
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left · 1 outlet
The tech-heavy Nasdaq dropped into correction territory following Democratic midterm election gains and proposed data center buildout restrictions in Texas. Chipmakers like Nvidia and Qualcomm led a broad tech market sell-off amid earnings pressure and shifting AI infrastructure policy concerns.
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center · 3 outlets
Global stock markets witnessed heavy selling as a sharp sell-off in US technology stocks wiped out Wall Street's post-election rally, with concerns over a possible slowdown in artificial intelligence-related data centre investments triggering losses across global markets.
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Global stock markets witnessed heavy selling as a sharp sell-off in US technology stocks wiped out Wall Street's post-election rally, with concerns over a possible slowdown in artificial intelligence-related data centre investments triggering losses across global markets.
