US tech shares fall sharply as investors bet on AI slowdown after Democrats’ election triumph
The Guardian
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The Nasdaq index suffered its worst day in 18 months, dropping over 5% amid concerns that Democratic election wins will lead to stricter regulation on AI-related datacentre expansion. Chip stocks like SanDisk and Western Digital were hit hardest, while market volatility surged. Investors fear that new political hurdles could slow AI infrastructure growth in the US.
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