Stocks plunge, erasing post-election gains

Stocks plunged on Thursday, erasing the prior day's post-election surge, with the Dow closing down 1,833 points and the Nasdaq falling over 11% from its recent high. The sell-off hit major indices broadly, with the Nasdaq Composite and S&P 500 dropping roughly 1,422 and 335 points respectively. Investors remain concerned about mounting AI-related debt, while Democratic midterm victories have fueled expectations of stricter industry regulation. Democratic lawmakers campaigned on reining in the AI sector, and voters rejected data center measures on dozens of ballots. Sen. Bernie Sanders renewed his call for a national moratorium on data center construction. Historically, the S&P 500 has averaged a 1% gain one week after midterms.