Democratic wins hit AI chip stocks hard

Democratic victories in the US midterm elections have triggered a sell-off in AI-related technology stocks, with chipmakers hit hardest. The Nasdaq 100 fell 5.5 percent, while the S&P 500 dropped 3.2 percent. Nvidia shares lost 8.3 percent, AMD plunged 15.9 percent, and CoreWeave fell 14.9 percent. Investors fear Democrats will impose stricter regulations on AI data centers, citing concerns over high energy consumption, noise, pollution, and water shortages. In Germany, Infineon shares dropped over ten percent, and Siemens Energy and Hochtief also declined. The DAX briefly hit a record before closing 0.8 percent lower.