Nasdaq 100 faces $1.8 trillion loss as Democratic win raises AI delay fears

The Nasdaq 100 was poised to lose $1.8 trillion in market value on Thursday as investors feared a Democratic midterm victory would delay AI infrastructure expansion. Semiconductor and neocloud stocks fell sharply for a second day on worries that billion-dollar data center buildouts could face delays. CoreWeave slumped 11.4%, Nebius dropped 15.2%, and the Philadelphia SE Semiconductor index fell 10.2% to a six-month low. Investors expect Democratic control of Congress to bring tougher scrutiny of the data-center industry amid mounting public opposition. UBS estimated 30% of expected US data center capacity additions in 2028 could be at risk from construction pauses.