Arabic version: أسهم التكنولوجيا تهبط بعد نتائج انتخابات التجديد النصفي الأميركية

According to BBC News, hundreds of billions of dollars in market value were wiped from major technology firms after US midterm election results raised concerns about a slowdown in artificial intelligence development. Democratic candidates had campaigned to slow data-centre expansion and AI development, while dozens of ballot measures sought restrictions on the hubs needed to power the technology.

The tech-heavy Nasdaq Composite closed down more than 5.5%, losing an estimated $2.5tn (£1.9tn) in market capitalisation, according to Dow Jones data. The S&P 500 fell 4.4% and the Dow Jones Industrial Average closed down more than 3.4%. The Nasdaq decline placed the index in correction territory, defined as a fall of at least 10% below its recent high.

Democrats won both the US Senate and House of Representatives in Tuesday’s midterms, taking control of Congress for the rest of President Donald Trump’s presidency. Texas Democratic governor-elect Gina Hinojosa had pledged a moratorium on new data-centre construction. Trump blamed the market slide on his political opponents in a social media post.

AI-exposed companies recorded some of the sharpest losses. Nvidia fell more than 9%, reducing its market value by more than $400bn. AMD and Micron each dropped more than 17%, Intel declined 10.3%, and SanDisk fell more than 22%. The Philadelphia Semiconductor Index, which tracks 30 large semiconductor-production companies, dropped more than 12%.

Shares in SpaceX and Tesla fell 8% and nearly 11% respectively, erasing more than $300bn from the companies’ market value on Thursday. In total, the so-called magnificent seven technology companies shed a trillion dollars in a single trading day. Investors were also weighing wider concerns over whether vast AI infrastructure spending will produce the returns they expect.