US Election Fears Trigger $2.5 Trillion AI Stock Rout

Wall Street suffered severe losses Thursday, with mass selloffs erasing approximately $2.5 trillion in market value from Nasdaq Composite companies, triggered by concerns that Democratic election gains could restrict artificial intelligence infrastructure growth. The Nasdaq fell 5.52%, closing in correction territory with losses exceeding 10% from its October 6 record high, marking its worst session since April 2025. The S&P 500 and Dow Jones also posted their worst daily performances since that period, with the Dow dropping 1,833 points. Investor anxiety centers on Texas Democratic gubernatorial candidate Gina Hinojosa's victory, as she proposed temporarily suspending data center construction and eliminating tax incentives for AI infrastructure companies like Google, Meta, Oracle, and OpenAI in the state.