Dow drops 1,800 points; Nasdaq tumbles into correction territory on AI tech wreck: Live updates
CNBC · Sean Conlon, Davis Giangiulio, Hugh Leask, Lee Ying Shan ·
Investors continued to rotate away from technology stocks and into more defensive areas of the market.
Stocks plummeted on Thursday, erasing the sharp gains from the rally seen in the wake of the U.S. midterm elections, as investors accelerated their move away from technology stocks on fears of a data-center buildout slowdown.
The Nasdaq Composite declined 5.52% to close at 24,315.00. The tech-heavy index slid into correction territory, falling more than 10% below a record set last month. The S&P 500 dropped 4.36% to end at 7,353.73. The Dow Jones Industrial Average shed 1,833.06 points, or 3.44%, and settled at 51,523.06.
The Dow more than wiped out its advance from Wednesday's massive postelection rally. All three major averages posted their worst day since April 2025.