On November 6, the Nasdaq 100 fell more than 6%, wiping out $2.3 trillion in market value in a single session, while the Nasdaq dropped 5.5%. Markets reacted to a Democratic victory in Congressional elections and concerns about policy changes affecting AI infrastructure. Nvidia shares fell more than 9%, a semiconductor index dropped 12%, and AMD and Micron shares declined 17%. The Nasdaq was nearly 15% below its October 6 record high, and CNN’s Fear & Greed Index moved into “Extreme Fear” territory.
Total market value losses reached $3 trillion amid concerns over tighter AI regulations following the recent shift in congressional control.
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