U.S. Tech Stocks Plunge as AI Investment Expectations Come Under Pressure
After the U.S. midterm elections, tech stocks sold off sharply. The Nasdaq 100 fell more than 6% on November 5, wiping about $3.2 trillion from U.S. stock market value that day. Investors are concerned about potential obstacles to data center construction, rising borrowing costs and weakening valuation expectations for AI companies.
