AI stocks plunge after election, driving down US markets

Tech stocks lead US market slide as investors weigh impact of midterm election results on AI industry.United States markets slid on Thursday, with losses in US chip and data centre-related stocks fuelling pressure on the technology sector following Democrats’ sweeping midterm election wins.The tech-heavy Nasdaq was down 4.8 percent in midday trading, while the S&P 500 fell 3.6 and the Dow Jones Industrial Average slid 2.8 percent.Recommended Stories list of 4 itemslist 1 of 4US markets rise as Democrats sweep midterm electionslist 2 of 4How US oil firms profit $130bn from Iran war as household bills surgelist 3 of 4US petrol prices dip ahead of midterms as voters eye costslist 4 of 4Can Democrats stop Iran war, reverse Trump’s tariffs after midterms win?end of listUS markets jumped on Wednesday following the midterm election, with Democrats’ sweeping wins signalling limits on policy shocks from a Congress at odds with the White House. Markets were also reassured by US President Donald Trump’s remarks that he would accept the election results.Artificial intelligence (AI) stocks – which have driven much of the market’s growth – led the plunge in the tech sector that drove down ma...