Markets in shock. Wall Street experienced its worst decline since 2020 on Thursday, with approximately $3 trillion in market value wiped out in a single trading session.
The sell-off even reached Asia, with global tech giants and artificial intelligence stocks bearing the brunt of the losses.
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
The Dow Jones fell 3.44%, the S&P 500 4.36%, and the broader Nasdaq technology index 5.52%, entering correction territory. The blow to the Nasdaq 100 was even greater, as it posted losses of approximately 6.4%, shedding $2.3 trillion. Nvidia, the crown jewel of artificial intelligence, took a heavy hit on the stock market, losing nearly $450 billion in market capitalization, as its stock price fell by 9.26%. This drop wiped out all of its gains since the beginning of 2026, pushing the stock into negative territory.
Panic ensued on Asian stock markets as well; in Seoul, the Kospi fell 6.2%. In fact, trading was halted for 20 minutes because at one point the index was down more than 8.5%.
The Nikkei 225 plunged 6.1% and entered bear market territory.
Losses were also seen on European stock markets, as concerns intensified. All of this came after the Democrats’ landslide victory in the U.S. midterm elections, which consequently weakened Trump’s position.
“The stock market experienced one of the worst days in its history because of the election results. It’s really sad to see!”
Donald Trump – U.S. President
The Democrats plan to establish a new regulatory framework for new technologies, restricting AI and new data center construction.
“As investors began to examine the data more closely, they discovered that there were more than a dozen referendums on the ballots in various states, which concerned restrictions on data center construction and on the activity that has developed around artificial intelligence.”
Barry Ritholtz – Founder of Ritholtz Wealth Management
Due to political uncertainty, investors are expected to turn to safer stocks and, at least for now, will not prioritize returns.
*Photo source: AP.
