AI stock sell-off drives S&P 500 down 4.4% in worst day since April

Wall Street suffered a severe sell-off Thursday, led by AI data-center stocks, with the S&P 500 falling 4.4 percent in its worst day since April 2025. The Dow dropped 1,833 points, and the Nasdaq tumbled 5.5 percent, erasing the previous day's gains. The decline was driven by concerns over high borrowing costs slowing AI infrastructure construction and fears of a bubble in tech valuations. Nvidia fell 9.3 percent, while Advanced Micro Devices dropped 17.3 percent, with losses spreading to global markets like South Korea's Kospi. Tuesday's US midterm elections added pressure, as Democratic victories raised the possibility of government pauses on data-center projects. Treasury yields fell to 4.84 percent, while Brent crude rose 3.9 percent to US$98.29 amid ongoing uncertainty over the Iran war.