Global tech stocks plunge after US midterm elections

boursorama.com (French) —

Global tech and AI-related stocks plunged Thursday after Democratic victories in the US midterm elections raised fears of stricter regulations on data center construction. The Nasdaq fell 4.31%, with chipmakers like Nvidia and AMD suffering steep losses. Investors worry newly elected Democrats and local restrictions in dozens of cities will slow data center growth, a key driver of tech earnings. European markets fell less sharply, while defensive sectors like pharmaceuticals and US Treasury bonds gained as safe havens. Oil prices rebounded over 3% on stalled Middle East peace efforts, while arms maker Rheinmetall collapsed 16% after cutting its annual forecast for a second time.


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