Black Thursday for AI: Nasdaq plunges over 5%

The Nasdaq index experienced a significant drop of 5.4%, marking its worst session since April 2025, primarily due to concerns over the tech sector and AI investments. This decline was influenced by disappointing earnings from chip manufacturers and fears of a slowdown in data center investments. Major companies like Qualcomm and AMD saw substantial losses, while tech giants like Microsoft and Amazon also faced declines. The market's reaction was exacerbated by the recent Democratic electoral victories, raising regulatory concerns for tech firms. Meanwhile, oil prices rebounded slightly after a sharp decline earlier in the week, influenced by geopolitical factors and expectations of reduced inflation.