Wall Street AI selloff shakes markets after US midterm elections
Written by AI from thestreet.com's report. Not checked by a person.
US stocks suffered a sharp AI-driven rout after the midterms, with the Dow plunging nearly 1,700 points before partial recovery on 6 November.
US markets were jolted after the midterm elections as investors worried a Democratic wave would bring increased scrutiny of data centres and the artificial-intelligence industry they support. ABC reported the Dow plunged nearly 1,700 points, erasing gains from an election-result rally; TheStreet reported the Nasdaq 100 fell 6.3%, wiping out about $2.3 trillion of market value, in the worst US market drop since April 2025. On Friday 6 November, the S&P 500 and Nasdaq rebounded, trimming the week's losses. Oil also fell over the week, with Brent near $98 after peaking above $110, as traders weighed US-Iran diplomacy. Reports differ on exact figures. Note: markets were closed on 7 November, so this reflects the latest session.
