Nasdaq falls 3.3% as AI stocks sell off on Democratic midterm sweep

Cointime reports: The Nasdaq Composite fell 3.3% on Thursday as investors pulled out of technology stocks for a second straight session after Democrats won the midterm elections, with AI-linked chip and data-center shares leading the decline. AMD dropped 12%, Micron 9%, SK Hynix 8.8% and Nvidia 5%, while the Philadelphia Semiconductor Index slid 8% to its lowest since April 20. The S&P 500 fell 1.9% and the Dow lost 489 points, or 0.9%.