1The Nasdaq 100 drops 6%, losing a record $2.3T in value, and the Philadelphia chip index plunges 12%, on concerns over the AI trade after Democrats won Congress (Natalia Kniazhevich/Bloomberg)techmeme.comMedium11·05 22:15Z
The 2 articles this piece was written from — of 11 independent outlets covering the story.Also consulted2Nasdaq Sinks 5% as Investors Retreat from AI Trade After Electionwsj.comMedium
The NASDAQ-100 dropped 6% on November 5, losing a record $2.3 trillion in value, while the Philly semiconductor sector index plunged 12%1. Investors exited technology stocks on concerns over the artificial intelligence trade after Democrats won Congress, according to Bloomberg's Natalia Kniazhevich, marking the sector's steepest decline since 2020.