From BigGo Finance · BigGo Finance · · 1m 10s
Nasdaq Plunges 5.5% on AI Data Center Regulation Fears
U.S. stocks tumble as AI data center regulation fears trigger Nasdaq drop.
In brief
U.S. stocks tumble as AI data center regulation fears trigger Nasdaq drop. Nasdaq fell 5.5% to 24,315.00 after AI infrastructure stocks crashed amid concerns over Democratic Party's potential regulation of power and water use in data centers. Originally reported by BigGo Finance.
U.S. Stocks Plunge
U.S. stocks fell sharply across the board, weighed down by doubts over the outlook for AI data center investment and political uncertainty.
Nasdaq Drops 5.5%
The Nasdaq closed down 5.5% at 24,315.00, and the S&P 500 dropped 4.4% to 7,353.73.
AI Infrastructure Stocks Crash
Nvidia and AMD fell sharply, while CoreWeave dropped 9.8% and GE Vernova slid 7.5%.
Political Uncertainty
The Democratic Party's midterm election victory raised fears of tighter regulation on power and water use for data centers.
Treasury Yield and Oil Prices
The 10-year Treasury yield fell to 4.84%, while WTI rebounded 2.7% to $90.52.
South Korean Markets Tumble
South Korea's Kospi fell 5.28% and Kosdaq dropped 5.11% as foreign investors net sold 3.3928 trillion won.
Sell-Side Sidecars Triggered
Kospi 200 futures fell 5.21%, halting program sell orders for five minutes.
The bottom line
Nasdaq fell 5.5% to 24,315.00 after AI infrastructure stocks crashed amid concerns over Democratic Party's potential regulation of power and water use in data centers.
