THE BARE STORY
U.S. stocks fell sharply Thursday, erasing gains from the previous day’s postelection rally. The Nasdaq Composite dropped 5.5% to 24,315, placing it in correction territory after falling more than 10% from its October high. The S&P 500 declined 4.4% to 7,354, while the Dow Jones Industrial Average fell 1,833 points, or 3.4%.
Technology and artificial intelligence-related shares led the declines amid investor concerns that data-center construction and the broader AI buildout could slow after the midterm elections. Nvidia shares fell more than 9%, while Advanced Micro Devices dropped 17.3% and CoreWeave declined 9.8%. The group known as the Magnificent Seven lost more than $1 trillion in combined market value.
All 11 S&P 500 sectors finished lower, with information technology down 7.3%. The declines were the steepest one-day percentage losses for the S&P 500, Dow and Nasdaq since April 4, 2025. The CBOE Volatility Index rose to its highest level since March 31.
Note: All TheBareNews content is AI-generated. For additional context, reporting, and updates, you are invited to explore the news outlets linked above.
