US stocks crater as investors recoil from tech companies amid AI risks
CBSNEWS.COM
'AI risks'
SUMMARY

U.S. stocks plunged Thursday as investors worried that Democrats’ midterm victories could empower opposition to new data centers that power artificial intelligence, slowing their construction and hurting AI-related firms. The Nasdaq fell about 5%, the S&P 500 dropped 3.7%, and the Dow lost 2.9%.

Chip and AI-linked names were hit hardest. Nvidia slid 7.5%, AMD fell 14.6%, and CoreWeave dropped 12.1%, reflecting fears about "headline" risks around AI, analysts said.

Oil rebounded, with Brent rising 2.6% to $97.11 amid ongoing uncertainty about the Iran conflict.

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