Wall Street selloff hits AI stocks; Swiss market stays calm

The US stock market experienced a sharp selloff on Thursday, November 5, with the Nasdaq falling 5.52 percent, driven by heavy losses in AI and semiconductor stocks. The decline followed initial relief after the midterm elections, with President Donald Trump calling the drop "so sad" on Truth Social. Nvidia lost 9.26 percent, wiping out $400 billion in market value, while Broadcom and Micron fell 10.43 and 17.46 percent respectively. The selloff was triggered by fears of stricter regulation under Democratic control of Congress, exemplified by Texas Governor-elect Gina Hinojosa's call for a data center moratorium, alongside disappointing Qualcomm earnings. The Swiss market remained relatively stable, with the SMI closing down only 0.42 percent. Analysts note that while short-term volatility is likely, historical data shows US markets typically rise 15 percent in the year following midterms, and Swiss equities remain attractive long-term investments.