Wall Street Suffers Sharp Sell-Off as Nasdaq Loses $2.3 Trillion

Wall Street experienced one of its most severe sell-offs in recent years, with the Nasdaq losing $2.3 trillion in market value amid fears that political shifts in Washington could curb AI infrastructure investments. The S&P 500 fell 4.4%, its worst day since April 2025, while the Dow dropped 1,833 points and the Nasdaq declined 5.5%. Chip stocks led losses, with Nvidia down 9.3% and AMD plunging 17.3%, as investors questioned whether massive AI spending can continue. The sell-off followed Democratic gains in midterm elections, raising concerns about tighter regulation of data centers. The VIX volatility index jumped to 28.18, while investors sought safety in Treasury bonds, with the 10-year yield falling to 4.84%.