Wall Street closes sharply lower with allusions to a `bloodbath` in the stock market

Wall Street experienced a significant decline, driven by falling tech stocks amid concerns over data center development following the Democratic victories in the midterms. The Nasdaq dropped 5.52%, marking its largest decline in 18 months, while the S&P 500 and Dow Jones also saw substantial losses. Investors fear that the election results may hinder artificial intelligence growth due to opposition against data centers in various districts. Major tech companies like Nvidia and AMD faced steep losses, with the combined market cap of the 'Magnificent Seven' tech giants decreasing by $800 billion. Analysts noted a shift towards caution among investors, influenced by rising oil prices and geopolitical uncertainties, while upcoming employment data could impact market recovery.