AI Bubble Fears Trigger US Stock Rout, Chip Index Plunges 12%

U.S. stocks suffered a "Black Thursday" as Democratic midterm election victories fueled fears of stricter AI regulation, triggering a massive selloff. The Philadelphia Semiconductor Index plunged over 12%, with Micron and AMD each dropping 17%. The Dow Jones plummeted 1,833 points, the Nasdaq fell 5.52%, and Nvidia dropped 9.26%, while TSMC ADRs lost over 10%. The selloff spread to Asian markets, with Japan's Nikkei falling over 4,000 points and South Korea's KOSPI triggering a circuit breaker. Senator Bernie Sanders called for a pause on data center construction, while experts like LPL Financial's Adam Turnquist argued the market overreacted, noting AI demand won't diminish despite potential regulatory hurdles. Analysts warn short-term semiconductor selling pressure may persist.