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Nasdaq sees worst day in 18 months as investors bet on AI slowdown after Democrats’ election triumph (www.theguardian.com)
submitted 4 days ago by to c/economics@lemmy.world
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The Nasdaq share index had its worst day in 18 months after slumping 5.5% on Thursday amid growing signs that the artificial intelligence industry will face tougher regulation because of the midterm election results.

As Wall Street sustained widespread losses, the Nasdaq composite tumbled into “correction territory” – more than 10% below its recent record high – with more than $2tn shaved off its value by the end of trading Thursday. The tech-heavy index had its biggest one-day fall since Donald Trump announced his “liberation day” tariffs on US trading partners in April 2025.

Worries over massive AI spending gripped the New York stock market and rippled out to other bourses worldwide as investors anticipated tougher scrutiny of datacentre expansion plans.

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[–] 11 points 4 days ago (2 children)

nasdaq started going down before the elections, if the ai bubble burst is because it was due to happen, has little to do with the election results

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  • [–] 6 points 4 days ago

    Yurpppp, this was always just the easy out but private equity & VC tapped out months ago. Anthropic and OpenAI were both planning on Fall IPOs and still weren't able to secure the valuation in time.

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    • [–] 7 points 4 days ago

    After having the best day just post election. So?

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    [–] 2 points 4 days ago

    With how much they were pushing for people to ask AI about midterms, and how everything is logged for training...

    It wouldn't take much to convince me that the earlier drop wasnt a coincidence. I'd bet the people who get to see all that data and held a shit ton of AI stocks all just cashed out their secondary wallets. The ones not actually in their names and routed through all those accounts in the Panama Papers we all got distracted from.

    Turn that into cash even if crashes the price, because the funds in your name would be taxed.

    Capitalism is always rigged, crypto-capitalism doubley so.

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    [–] 1 point 4 days ago (1 child)

    Wait, what happened 18 months ago?

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