BusinessPhoto: News18 BusinessNasdaq Falls 5%, Chip Stocks Plunge Amid AI Investment Concerns
The Nasdaq Composite dropped 5.30% on November 3, with semiconductor stocks like Nvidia, AMD, and Micron Technology falling sharply. This sell-off follows the Democratic Party's midterm election victories and growing investor worries about the future of large-scale AI data center projects and infrastructure spending. The Nasdaq is now 11% below its October 6 record high, signaling a market correction and a reassessment of AI investment returns.
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