US Tech Stocks Plunge After Democrats' Midterm Win
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American technology stocks, particularly those involved in artificial intelligence and semiconductor production, experienced a significant sell-off following the Democrats' victory in the US midterm elections. Investors feared stricter regulation of AI and potential slowdown in the industry's growth. The Nasdaq Composite Index fell by 5.5%, leading to a loss of approximately $2.5 trillion in market value for tech companies. Notable losses included Nvidia (-9%), AMD (-17%), Micron (-17%), and Intel (-10.3%), along with Elon Musk's companies SpaceX (-8%) and Tesla (-11%).
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