Dow drops more than 1,800 points as AI and chip stocks sell off
The Dow Jones Industrial Average fell 1,833.06 points, or 3.44%, to 51,523.06 on Thursday. The S&P 500 fell 4.36% and the Nasdaq 5.52%, while the PHLX Semiconductor Index lost 12.25%. Investors sold AI chip and data center stocks for a second day; reports cited worries that Democrats' win in Congress could bring regulatory hurdles and slow data center spending, and hedge funds locking in this year's gains.
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Why it matters
Retirement accounts and funds that hold large technology and chip companies lost value on Thursday. The S&P 500, which many index funds track, fell 4.36%.
Sources
- Yahoo Finance: Dow plunges 1,800 points, Nasdaq enters correction
- The Canadian Press via BNN Bloomberg: U.S. stock markets also fall
- StockTitan (citing CNBC, Reuters): Market closes sharply lower on AI chip selloff
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