Fears of an AI crackdown after midterms spark $2 trillion rout in tech stocks
NPR · Rafael Nam ·
Shares sank, with the tech-heavy Nasdaq dropping over 5%, as investors reacted with fear that a Democratic Congress — and states across the country -— would crack down on AI and data centers.
AILSA CHANG, HOST:
It was an ugly day on Wall Street. Stock markets sank two days after Democrats overwhelmingly won the midterm elections. The reason was a big sell-off in AI shares that sent the tech-heavy NASDAQ down more than 5% and wiped out more than $2 trillion in market value. For more, I'm joined now by NPR senior business editor Rafael Nam. Hi, Rafael.
RAFAEL NAM, BYLINE: Hey, Ailsa.